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Sabal Closes on $70M Refi of Bronx Portfolio
Sabal Capital Partners, LLC closed on a $70-million portfolio encompassing the refinance of 17 multifamily assets in the Bronx. The borrower and the locations of the properties weren’t disclosed.
The portfolio represents five loans secured by a total of 477 rental units. It was completed by Sabal’s New York-based CMBS team through the lender’s S-CRE program.
“This portfolio close reflects the efficiency of our S-CRE loan program and the talent and technology backing it,” said Pat Jackson, founder and chief executive of Sabal. “We were able to underwrite and close a $70-million portfolio for low LTV, high cash flow properties, meeting CMBS standards in just 32 days.”
Fifteen of the 17 assets included in the portfolio were originally funded by Sabal through Freddie Mac’s Small Balance Loan program, and were also serviced by the lender.
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- ◦Financing

