6B — March 15 - 28, 2013 — New Jersey — Mid Atlantic Real Estate Journal
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N ortherN N ew J ersey
Raiss, managing partner, handles $8 million refinancing on behalf of the boutique hotel Kelin of Feinstein, Raiss, Kelin & Booker, LLC finalize loans valued at $18.675 million
W
EST ORANgE, NJ — The law firm of Feinstein, Raiss,
refinancing from Signature Bank . Each of the entities is man-
Nicholas La Morte , senior lending officer with Signature Bank . Legal counsel was pro- vided by Anita Hyland, Esq. , and Etan Moskovic, Esq. , both of Cassin & Cassin LLP , on behalf of the lender. “This was an atypical trans- action in that it involved thor- ough coordination of all loan and other related documents for 11 different properties, each of which had its ownmortgage,” said Kelin, who specializes in investment real estate trans- actions and financing. “Timing was critical to secure the lower rate and we were able to facili- tate the closing in an expedient
NJ and previously served on the board of directors of the NJ Apartment Association . In other FRKB news, Fein- stein, Raiss, Kelin & Booker, LLC has arranged an $8 million refinancing for The Wilshire Grand Hotel, an 89-room luxu- ry hotel located at 350 Pleasant Valley Way in West Orange. Larry Raiss, Esq. , amanaging partner, handled the refinanc- ing on behalf of the boutique hotel, a long-time client. “The hospitality industry has seen an influx of matur- ing debt in the past 12-18 months, prompting many enti- ties to consider a refinancing of the existing loan,” said Raiss, whose area of concentration is commercial real estate, as well as corporate, commercial and other types of transactional work. “The Wilshire Grand Ho- tel was able to negotiate a very attractive interest rate with a different New Jersey-based bank, and we assisted the Hotel to obtain the funding.” n Public Health Org. leases at Berger’s 50 Park Place
and efficient manner.” “Timing was critical to secure the lower rate and we were able to facilitate the closing in an ex- pedient and efficient manner.” Kelin is widely recognized for his depth of expertise in corporate and commercial law, including the formation and structuring of real estate part- nerships and limited liability companies. In addition to overseeing the firm’s transaction business, the Rutgers University School of Law graduate is active in sev- eral industry organizations. He is a past president of the Prop- erty Owners Association of
K e l i n & Booker,LLC (FRKB) has finalized the refinancing of 11 loans involving 10 multi-family properties in H u d s o n County, and one in Brooklyn, NY. Richard Kelin, Esq. , man- aging partner, represented the borrowing entities, which secured $18.675 million in Richard Kelin
a g e d b y J o s e p h Rosenberg of Lafayette Realty. The transaction team also in- cluded Mor- ris Diamant of Meridian
Larry Raiss
Capital group LLC and Mi- chael L. Donini, Esq. , senior commercial counsel for Madi- son Title Agency , who han- dled the complex title issues. The loan was coordinated with
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R E C E N T N O R T H M A R Q T R A N S A C T I O N S
$9,500,000 Rahway Plaza Apartments SIZE: 228 UNITS CITY: RAHWAY, NJ LENDER: AMERISPHERE / FANNIE MAE DUS
$77,500,000 Tufts University Medical Center SIZE: 252,087 SF CITY: BOSTON, MA LENDER: LIFE COMPANY
$8,000,000 Millburn Shopping Center SIZE: 66,797 SF CITY: SHORT HILLS, NJ LENDER: LIFE COMPANY
50 Park Pl.
NEWARK, NJ — The Part- nership for Maternal and Child Health of Northern NJ has joined the tenant roster at The Berger Organization’s Robert Treat Center, 50 Park Pl. The non-profit public health organization leased 5,400 s/f for its headquarters at the 100,000 s/f, 15-story office tower. Christian Benedetto, Jr. of Hopkins Sampson & Brown Real Estate Advisory Ser- vices, LLC , represented the Partnership for Maternal and Child Health of Northern NJ in negotiating its multi-year lease at Robert Treat Center. Bren- dan Berger , vice president of The Berger Organization, served as in-house representa- tive in the transaction. n
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