Real Estate Journal — Financial Digest — April 14 - 27, 2017 — 11A
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M id A tlantic
F inancial D igest Refinancing of Quality Inn in Manassas, VA
Merkin & Tropp of Eastern Union Funding represent borrower in $4.35 million loan M anassas, VA — Ea s t e rn Un i on Funding arranged
10653 Balls Ford Rd., at the in- tersection of I-66 and Rte. 234, the 120-room hotel is 17 miles from the Washington Dulles International Airport, and proximate to several Northern Virginia and Washington, D.C. attractions and universities. In other news, EasternUnion Funding arranged $2.25 mil- lion in acquisition and renova- tion financing for ZWL Prop- erties’ purchase of 5000 West Bloomingdale Ave., a 138,000 s/f flex office and warehouse property on 5.1 acres in Chi- cago, IL. n
a $4.35 mil- lion loan with Burke &Her- bert Bank to refinance the Quality Inn i n Mana s - sas. Eastern Union's Da- vid Merkin a n d Ma r c Tropp rep- resented the borrower, a local owner/ operator, in the transac- tion. Located at
David Merkin
Quality Inn
Marc Tropp
HFF arranges $290m financing for mixed-use development NEW YORK, NY — Hol- liday Fenoglio Fowler, L.P. (HFF) has arranged $290 million in financing for the development of 151 East 86th St., a luxury mixed-use resi- dential and retail project in Manhattan’s Upper East Side neighborhood. HFF worked on behalf of the developer, a joint venture between Ceruzzi Holdings LLC (Ceruzzi) and Kuafu Properties (Kuafu), to secure the construc- tion loan with a foreign capital source. HFF previously sourced financing on Ceruzzi’s behalf for its acquisition of the site in 2014. 151 East 86th St. is situated at the corner of 86th St. and Lexington Ave. The project will include a combination of luxury residential totaling 151,500 s/f and two stories of ground-floor retail totaling 30,600 rentable s/f. Complementing the retail base will be 61 luxury condo- minium units averaging 2,485 s/f with top-of-the-line finishes and floor-to-ceiling windows offering sweeping views of the Manhattan skyline and the East River. Resident amenities will include concierge service and 6,500 s/f of amenity space, including a state-of-the-art fitness facility, lounge, rooftop terrace and children’s play- room. Due for completion in first quarter 2019, the build- ing has been designed by HOK Architects with interiors by the renowned design firm Shelton, Mindel & Associates. n
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