High-rise commercial buildings

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

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

Sabal Closes on $70M Refi of Bronx Portfolio

Sabal Capital Partners, LLC closed on a $70-million portfolio encompassing the refinance of 17 multifamily assets in the Bronx. The borrower and the locations of the properties weren’t disclosed.

The portfolio represents five loans secured by a total of 477 rental units. It was completed by Sabal’s New York-based CMBS team through the lender’s S-CRE program.

“This portfolio close reflects the efficiency of our S-CRE loan program and the talent and technology backing it,” said Pat Jackson, founder and chief executive of Sabal. “We were able to underwrite and close a $70-million portfolio for low LTV, high cash flow properties, meeting CMBS standards in just 32 days.”

Fifteen of the 17 assets included in the portfolio were originally funded by Sabal through Freddie Mac’s Small Balance Loan program, and were also serviced by the lender.

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Sabal

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
New call-to-action
New call-to-action