Ariel Closes $49M in Financings Across Four Boroughs
Ariel Property Advisors’ Capital Services Division recently closed $48.8 million in financing for a diversified range of properties and portfolios, from residential to industrial. The transactions, led by an Ariel team including Paul McCormick, Matt Dzbanek, Ahron Sussman, Matt Swerdlow and Eli Weisblum, have demonstrated the enthusiasm lenders have for strategic deals amid a shifting market landscape.
“Creative financing solutions are key to delivering advantageous loans and terms for borrowers,” said Dzbanek. “There is a great deal of optimism right now and lenders recognize the need for tailored financing solutions for each deal.”
Among the team’s highlights, Weisblum arranged a $12.4-million refinance loan for a newly-built, 36-unit apartment building in the Bronx. Dzbanek led a $6.9-million cash-out refi for a 20-unit portfolio across Brooklyn and Queens.
Swerdlow, meanwhile, arranged a $4.7-million co-op refi, securing a senior note and a line of credit for the property in Northern Manhattan’s Morningside Heights neighborhood. Sussman led the closing of a $4-million construction loan for a Class-A industrial/warehouse development in Hebron, KY.