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NKF Debt Team Arranges Refi in Morningside Heights
NKF has secured a $78-million fixed-rate loan on behalf of BCB Property Management to refinance a six-building multifamily portfolio in Morningside Heights. Signature Bank provided the senior loan, while the mezzanine loan was provided by Keysite Capital.
The NKF team was led by Dustin Stolly and Jordan Roeschlaub, co-heads of debt & structured finance, along with Daniel Fromm and Jason Deck. “This refinancing allows BCB to repay their existing debt provided by Square Mile Capital, and provides the capital necessary to successfully complete the execution of their business plan,” said Stolly.
Located at 111 W. 104th St. (pictured), 242 W.109th St., 3143 Broadway, 3147 Broadway, 3149 Broadway and 500 Cathedral Pkwy., the properties are 100% occupied. BCB has spent over $10 million for unit renovations, common areas, and building systems upgrades since acquiring the portfolio in 2014.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

