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New York & Tri-State  + Uptown/Bronx  + Finance  | 

Black Bear Arranges Refi on Bronx MF Portfolio

Black Bear Capital Partners (BBCP) arranged $50.4 million in permanent financing on behalf of Finkelstein Timberger East Real Estate for the refinance of a five-property multifamily portfolio in the Bronx. BBCP’s Bryan Manz, Rob Serra and Emil DePasquale arranged the financing package.

The $50.4-million loan from Morgan Stanley featured a fixed rate of 3.78% and 10 years of interest-only payments. The five properties are located at: 2 Minerva Pl.; 901 Walton Ave.; 984 Sheridan Ave.; 1460 Macombs Rd.; and 4040 Bronx Blvd.

“BBCP worked closely with the sponsor and lender to close this financing package at a conservative loan-to-value ratio,” Manz said. “The quality of the assets and strength of the borrower enabled BBCP to negotiate a favorable fixed-rate with interest-only payments.”

The new loan follows an additional, multi-lender refinancing package BBCP arranged on behalf of Finkelstein Timberger totaling $67.1 million for several multifamily properties, also in the Bronx.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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