$45.1 Million Multifamily Portfolio Loan Arranged by IPA Capital Markets
Jun 14, 2017
IPA also brokered the portfolio sale.

NEW YORK, June 14, 2017– Institutional Property Advisors Capital Markets (IPA Capital Markets), a leading provider of debt and equity placements and advisory solutions for institutional and major private investors, has arranged $45.1 million in acquisition financing to purchase an 18-building, 207-unit multifamily portfolio in Brooklyn.

“This transaction shows that, despite the recent pull back of several major lenders, competition remains strong among New York and New Jersey savings banks,” says IPA Capital Markets’ Andrew Dansker. “Experienced buyers involved in well-priced transactions are still achieving premium outcomes for their debt usage.”

Dansker and Lior Goldberg arranged the loan on behalf of the buyer, a real estate fund. IPA also represented the seller, a private investor, and procured the buyer.

“Another aspect of this loan that was unique was that it allowed the buyer to spin off outlier assets from the portfolio early on in the loan term with no prepayment penalty,” adds Dansker.

The seven-year loan has a favorable fixed interest rate of 3.77 percent. The amortization schedule is 30 years and the loan to value is 60 percent.

Assembled by the seller during the height of the recession in 2009 and 2010, the portfolio’s properties are located throughout central and northern Brooklyn.