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Ariel Arranges Cash-Out Refi on Greenpoint Industrial 

Ariel Property Advisors has arranged a $10.5-million cash out refinance for a 41,500-square-foot,116-unit industrial property in Brooklyn’s Greenpoint neighborhood. The five-year, non-recourse loan featured a fixed rate of 5.15 % with one year of interest-only payments. 

The financing was secured by an Ariel team including Matthew Dzbanek and Matt Swerdlow, both senior directors of capital services, on behalf of an entity that has owned the property for more than 100 years. 

“The client wanted to refinance and pull-out additional capital in order to re-invest in the property,” Dzbanek said. “When his original bank wouldn’t make the loan, we identified several other lenders that were willing to finance the deal and ultimately secured a loan with all of the proceeds released at close.” 

The industrial asset is ideally located in Greenpoint, near the Brooklyn-Queens Expressway, which provides easy access to nearby retail and economic centers, including Midtown Manhattan. 

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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 13-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 15-20 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).

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