New York & Tri-State + Uptown/Bronx + Finance | June 24, 2021

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.

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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).