Ariel Property Advisors’ capital services division recently arranged $17.5 million in financing for seven transactions. The funding, located throughout the city and state and including a loan on a property in Michigan, reflects the company’s increased activity in the financing market.
Led by Ariel’s Paul McCormick, Matt Dzbanek and Eli Weisblum, the division arranged financing for 23 properties, which included multifamily, mixed-use, retail buildings, single-room occupancy (SRO), house of worship, and a single-family portfolio.
“These transactions represent some of the most challenging loans to get done these days; new construction cash-out refinancing, SROs, buildings with Certificate of Occupancy issues, and partially vacant retail in non-retail markets,” said Dzbanek (pictured).
Locally, the deals included a $2-million cash-out for a partially vacant new construction building in Williamsburg and a $1.92-million loan for a Prospect Heights multifamily property without a CO.
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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