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February 3, 2020 Comments Off on Black Bear Arranges More Loans for Bronx MF Owner Views: 512 New York News, Uptown/Bronx New York

Black Bear Arranges More Loans for Bronx MF Owner

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Black Bear Capital Partners (BBCP) arranged $43.8 million in permanent financing on behalf of Finkelstein Timberger East Real Estate (FTERE) to refinance a six-property multifamily portfolio in the Bronx. This new loan follows several refinancing packages totaling $117.5 million that BBCP recently arranged on behalf of FTERE.

The latest loan was provided by Morgan Stanley and features a fixed rate of 3.74% and 10 years of full-term, interest-only payments. BBCP’s Bryan Manz, Rob Serra and Emil DePasquale arranged the financing package.

“This financing opportunity was rendered particularly attractive given the strength and quality of the assets, as well as the sponsor’s extensive history as ‘best-in-class’ operators,” said Manz.

“The lender also provided exceptional execution, as we were able to arrange the loan with an earn-out structure in order to capture future upside in the properties. We look forward to working again with both parties on additional transactions.”

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