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January 22, 2020 Comments Off on Morgan Group’s Bronx Apartments Score $143M Refi Views: 552 New York News, Uptown/Bronx New York

Morgan Group’s Bronx Apartments Score $143M Refi

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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.

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