Arrow Lines Up Acquisition Financing for 7-Property Mixed-Use Portfolio
Arrow Real Estate Advisors arranged a $69.7-million acquisition bridge loan on behalf of TARGO Capital Partners for a seven-property, mixed-use portfolio located across Manhattan’s Lower East Side, East Village and West Village submarkets. Founder and managing partner Morris Betesh, director Brandon Serota, SVP Morris Dabbah and analyst Zach Strauss arranged the loan, which was provided by Bridge Investment Group.
“One of the most rewarding parts of our job is facilitating our clients’ growth and helping them scale their investment platforms responsibly with our high-touch capital markets advisory,” said Betesh. “As TARGO was evaluating the acquisition, we were in constant communication and provided them with confidence that the capital markets execution should be the least of their worries as we generated strong lender interest in a short period of time.”
The portfolio totals 76,182 gross square feet across 127 residential units and 13 retail units.
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Development Site Trades within Atlantic Avenue Mixed-Use Plan
Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...
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Fourth Sale Closes in Anaheim Multifamily Portfolio
Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...
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JLL Arranges $135M Financing for Luxury Multifamily in Yonkers
JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout