Ariel Arranges $50M Refi on 13 Multifamily Properties
Ariel Property Advisors’ Capital Services Group has arranged a $50-million refinance loan for a portfolio of 13 multifamily properties in Manhattan. Borrower and locations were not disclosed. The properties include 330 residential units and five commercial units across Manhattan’s Chelsea, East Village, Kips Bay, Upper East Side and Upper West Side neighborhoods.
An Ariel team led by senior directors Matthew Dzbanek and Matt Swerdlow negotiated the 10-year non-recourse loan, which features a 5.38% fixed rate and 25-year amortization.
“The portfolio’s broad appeal across various lender types facilitated a highly effective process, empowering us to showcase the full spectrum of market opportunities to our client,” said Dzbanek. “This proved particularly advantageous amidst recent economic volatility, as the wealth of available data equipped our client to make a well-informed and decisive choice.”
Other News
Lincoln, McCourt Launch 344-Unit Culver City Mixed-Use
Lincoln Property Company and McCourt Partners have broken ground for ElevenOneEleven, a new mixed-use development in Culver City. The groundbreaking occurred three weeks after Lincoln and McCourt announced $133 million in construction financing from Bank OZK. Set to rise on a vacant parcel, ElevenOneEleven will deliver 344 rental apartments, including 52 affordable units, along with 2,000 square...
Learn more
Logisco Launches $60M Quebec Rental Project With New Brand
Logisco is stripping back the amenity race with a $60M Quebec City apartment development aimed at renters who would rather pay less each month than fund pools, gyms and other extras. The developer has started construction on 193 apartments at 7075 Wilfrid-Hamel Blvd., the first project under its new Elie rental brand. The 10-storey building...
Learn more
Virtus Buys Hamilton Retirement Residence For $26M
Virtus Diversified REIT has purchased a 91-suite retirement residence in Hamilton for $26M, expanding its seniors housing portfolio. The acquisition of Abington Court Retirement Residence at 1500 Main St. E. closed Nov. 3. The independent living property opened in 2005 and added 20 suites in a 2018 expansion. Located west of the Red Hill Valley...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout