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Ariel Arranges Condo Inventory Loan for Newly Constructed Residential Project

The Capital Services Group at Ariel Property Advisors has arranged an $11.8-million condominium inventory loan for a 20-unit newly constructed residential condo project in Upper Manhattan. An Ariel team led by senior director Matt Swerdlow, director Anthony Priest and senior associate David Khukashvilli arranged the financing on behalf of the borrower. 

The 9.5% interest-only loan featured an 18-month term at 70% loan-to-value. The loan allowed the borrower to cash out at 20% above the bank construction loan, unlock funds and secure additional proceeds and reserves to complete the condo development, providing an 18-month runway to bring units to market and manage the sellout process with greater control. 

“This was a situation that required both speed and precision in execution,” said Swerdlow. “By restructuring the capital stack and recalibrating the financing, we were able to position the asset for a successful sellout while giving the borrower the flexibility to execute on the timeline.”

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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).

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