The Capital Services Division for Ariel Property Advisors (Ariel) has announced financing transactions totaling $13,665,000. They include acquisition funding and refinancing loans for four properties located in Georgia, Indiana and Brooklyn.
“These transactions are the latest demonstration of both our national lending scope and ability to secure the best possible financing terms for our clients,” said Matt Swerdlow, Senior Director of Capital Services. “Even with rising interest rates and market uncertainty for 2023, Ariel is still seeing a consistent amount of activity in the capital services sector, and we expect that trend to continue.”
Eli Weisblum, Senior Director with Ariel Property Advisors, and Paul McCormick, Partner, Sales Management, arranged the following transaction:
- An $8,250,000 refinance loan and line of credit to renovate and expand a 38-unit 160,000-square-foot shopping center in Lafayette, Indiana to accommodate one of the tenants, a government agency that needed a larger space. The loan features a 6.5% interest rate along with a 25-year amortization and 65% LTV.
Matt Swerdlow and Matthew Dzbanek, Senior Directors with Ariel Property Advisors, arranged the following three transactions:
- A $2,750,000 acquisition bridge loan for the purchase and renovation of an eight building, 46-unit residential property in Valdosta, Georgia. The loan features an 8.99% fixed rate, 36-month term and 70% LTC.
- A $1,530,000 refinance loan for a five-unit mixed-use property in Brooklyn, NY. The non-recourse loan includes a seven-year fixed rate of 5.25%, 75% LTV and cashed the client out.
- A $1,135,000 acquisition loan for a six-unit multifamily building in Brooklyn, NY. The non-recourse, five-year fixed rate loan also includes two years of interest only payments at 65% LTV.
About Ariel Property Advisors
Ariel Property Advisors is a commercial real estate services and advisory company located in
New York City. The company covers all major commercial asset types throughout the NY
metropolitan area while maintaining a very sharp focus on multifamily, mixed-use and
development properties. Ariel’s Research Division produces a variety of market reports that are
referenced throughout the industry. arielpa.nyc