F inancial D igest F eaturing M ultifamily F inancing
Mid Atlantic Real Estate Journal — August 17 - 30, 2012 — A
www.marejournal.com
DC office executes $50 million refinancing HFFarranges$41.15mon behalf of JG Petrucci
Office, retail, mixed-use, mulitfamily & co-op properties Meridian Capital Group negotiates $76.7m in financing
N EW YORK , NY – Meridian Capital Group, LLC, a lead-
Meridian on two multifamily buildings composed of 640 units located on 41st Avenue
$8,600,000 was placed by Meridian on a 43,000 s/f re- tail building on Fulton Street in Brooklyn, NY. The loan features a rate of 3.75% and a five-year term. Rael Gervis negotiated this transaction. Meridian negotiated a new mortgage in the amount of $7,700,000 on a 27,000 s/f office building on Broadway in New York, NY. The loan features a rate of 3.76% and a five-year term. Michael Kesselman negotiated this transaction. A n e w m o r t g a g e o f $1,850,000 was placed by Meridian on a 6,000 s/f mixed- use building on Atlantic Av- enue in Brooklyn, NY. The loan features a rate of 3.63% and a 10-year term. Simon Rosenfeld negotiated this transaction. n
ing national commercial real estate fi- nanceandad- visory firm, announced the follow- ing transac- tions: Me r i d i an
in Flushing, NY. The s e l o an s f e a - ture rates of 3 . 50% and f i v e - y e a r terms. Carol Shelby and Dani Sabe- san negoti-
Middlesex Logistic Center in Edison, New Jersey
Carol Shelby
Michael Kesselman
negotiated a new package of mortgages totaling $5,350,000 on three co-op buildings com- posed of 128 units located on Brighton 3rd Street and East 18th Street in Brooklyn, NY. These loans feature rates of 3.25% and 10-year terms. Morris Diamant negotiated these transactions. Two newmortgages totaling $41,200,000 were placed by BRAINERD, MN — Deer- wood Real Estate Capital, a mortgage brokerage and advisory firm, closed on an $8.5 million loan for a 240,000 s/f shopping mall located in Brainerd. The borrower acquired the property while it was 60% occupied and increased occupancy to 95%, raising the value of the prop- erty. Therefore, Deerwood was able to close a non-recourse, 10-year, fixed-rate loan that provided the borrower with
ated these transactions. Meridian negotiated a new mortgage in the amount of $12,000,000 on 11 multifam- ily buildings totaling 109 units located on Dover Chase Boulevard in Toms River, NJ. The loan features a rate of 3.88% and a seven-year term. Avi Weinstock negotiated this transaction. A n e w m o r t g a g e o f
Bayfair Center, an 813,307 s/f retail center in San Leandro, CA
EDISON, NJ — HFF has arranged $41.15 million in construction financing and joint venture equity for the development of Middlesex Lo- gistic Center, a 570,100 s/f dis- tribution center in Edison. HFF worked on behalf of the sponsor, JG Petrucci Co., Inc., to structure joint ven- ture equity from institution- al investors advised by J.P. Morgan Asset Management. In addition, on behalf of the partnership, HFF secured the construction loan through M&T Bank. Middlesex Logistic Center will be a 570,100 s/f state-of- the-art LEED certified ware- house and distribution center located adjacent to Raritan Center and Heller Industrial Park near Exit 10 of the New
Jersey Turnpike. The HFF team represent- ing the borrower was led by senior managing director Jon Mikula and managing direc- tor Michael Nachamkin. WASHINGTON, DC—HFF has secured a $50 million re- financing for Bayfair Center, an 813,307 s/f retail center in San Leandro, CA. HFF worked on behalf of Madison Marquette Retail Enhancement Fund to secure the five-year, adjustable-rate loan through Guggenheim Commercial Real Estate Fi- nance. The HFF team representing Madison Marquette Retail Enhancement Fund was led by managing director Mark Remington and senior manag- ing director Bruce Ganong. n
Deerwood arranges over $16.5 million in financing for two shopping centers
a significant return of equity. The loan was negotiated by Rafi Frankel, Abe Katz, and Mark Silbersher. Deerwood also secured an $8.12 million loan for a 200,000 s/f grocery-anchored shopping center in Western Pennsylvania. The 30-year- old center includes a local gro- cery store, as well as several national and local tenants. The borrower needed a non- recourse loan of 75% of his purchase price; Deerwood suc- Given Deerwood’s activity in the market, the borrower knew that he could count on Deerwood to get the most competitive deal. The firm was successful in closing the loan quickly and efficiently, with a very smooth process. David Rosenberg, Meyer Perl- man and Adam Schenkman negotiated the terms of the loan. n ALSO INSIDE: E dward D. B rown , N orth M arq . .....................................................................................................................................................................8-9A cessfully closed the loan and fixed the rate for 10 years in the mid 4’s.
M arc T ropp , E astern U nion C ommercial .......................................................................................................................................................10A
B ruce C oin , B ruce C oin C onsulting , I nc ....................................................................................................................................................... 11A
M ark S cott , C ommercial M ortgage C apital .................................................................................................................................................12A
S ales & L eases . .................................................................................................................................................................................................18A
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