Juniper Capital Group, a New York based boutique financial advisory firm, announced the closing of four commercial property loans for approximately $26.8 million across four states.
The largest loan included a $10.5 million bridge loan for the acquisition of Cross Creek, a 141,468 square-foot, big-box retail shopping center in Troy, Michigan.
The borrower was Avram Weissman of the Weissman Corporation and the lender was C3 Capital Partners. The term of the non-recourse loan was 24 months at libor + 400.
Juniper Capital Group’s Nate Lowy negotiated the finance deal in under 30 days with a 75% LTV bridge loan to allow the borrower to bring the property to stabilization.
“Our borrower purchased the property at a great basis which allowed us to get aggressive financing terms,” said Lowy. “And our strong relationship with C3 assured that this TOE purchase closed on time.”
Other recent originations include:
- Classic American, a 150-unit rental garden apartment style multifamily complex in Syracuse, New York received a $6 million cash-out refinance 10-year loan that features a two-year interest-only period.
- A $5.3 million (FNMA loan) for “The Regency at Raleigh,” a 200-unit multifamily building in Memphis, Tennessee. The ten-year loan, that closed in under 30 days as the borrowers’ loan matured, recently reached stabilization. Juniper Capital’s Nate Lowy negotiated the financing with the lender, Arbor Realty Trust, a national direct lender to the multifamily and commercial real estate industry and undisclosed borrower.
- A $5 million Freddie Mac loan for a 135-unit multifamily portfolio of garden style townhomes in Hartford, CT. The loan features a three year interest only period with a flexible prepay structure. Juniper Capital’s Nate Lowy negotiated the financing with the lender, Arbor Arbor Realty Trust, a national direct lender to the multifamily and commercial real estate industry and the undisclosed borrower. The properties utilized Freddie’s link loan program to achieve aggressive terms.