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New York & Tri-State  + Uptown/Bronx  + Finance  | 

Morgan Group’s Bronx Apartments Score $143M Refi

Black Bear Capital Partners (BBCP) arranged $142.6 million in permanent financing on behalf of The Morgan Group for the refinance of an 18-property multifamily portfolio in the Bronx.

Provided by Morgan Stanley, the loan package featured a fixed, blended rate of 3.78% and 10 years of interest-only payments. Bryan Manz, Rob Serra, and Emil DePasquale, all of BBCP, arranged the financing. The new, low-leverage loan package replaces existing debt with a near-term maturity.

“BBCP, The Morgan Group and Morgan Stanley worked diligently to close this complex refinancing package in timely and efficient manner for a large multifamily portfolio in the Bronx,” Manz said. “We look forward to arranging additional transactions with both parties.”

This new $142.6-million refinancing package follows $117.5 million in refinancing BBCP arranged in late 2019 for a separate Bronx portfolio.

For comments, questions or concerns, please contact Paul Bubny

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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).

  • ◦Financing
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