Ariel Property Advisors Arranges $6.5 Million Fixed-Rate Loan For Mixed-Use/Multi-Family Buildings In Bedford-Stuyvesant
Ariel Property Advisors’ Capital Services Division recently arranged a $6.5 million loan for four properties located in Bedford-Stuyvesant, one of the most eclectic and architecturally-rich neighborhoods in Brooklyn.
The Division arranged a 5-year, 75% loan-to-value (LTV) cash-out refinance loan at a fixed rate of 4%. This allowed the borrower to pay off four existing loans and get additional capital for future investments. Led by Ariel’s Paul McCormick, Senior Vice President of Investment Sales and Capital Services, and Matt Dzbanek, Director of Capital Services, the non-recourse mortgage’s favorable terms were negotiated to meet the needs of the client and their fund.
“In an environment where lenders are pulling back from lending on smaller loans, we were able to work with our relationships to not only get the most aggressive proceeds, but also the best structure for the client,” Dzbanek said.