Sources of Financing
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Sources of Financing

Hudson Realty Capital (212-532-3553) funded a nine-month, $3 million bridge loan secured by two parcels of land in Ossining, NY. The first is a 32,911 sq.ft. parcel containing a vacant industrial building at 73 Spring Street, while the second is a 37,117 sq.ft. vacant parcel of land at the intersection of State Street and Academy Place. The borrower is planning a mixed-use redevelopment, involving the conversion of the existing industrial building on Spring Street into a 32,995 sq.ft. site with condominiums and 2,668 sq.ft. of street-level retail. At the intersection of State Street and Academy Place, plans call for the construction of a new residential condominium with 43,920 sq.ft. of residential and 6,600 sq.ft. of street-level retail.

Northmarq Capital, Inc. (913-647-1610) arranged a $3.325 million loan for a single-tenant retail building occupied by JoAnn Fabrics in Kansas City, MO. The 33,357 sq.ft. building is situated on a land area of 4.52 acres.

BMC Capital (214-526-7178) offers NNN retail and industrial recourse and non-recourse financing from $500,000 to $10 million. The maximum LTV is 75% with an amortization of 30 years and fixed-rate terms from three years, five years and 10 years with rates of 6% to 7%.

Meridian Capital Group, LLC (732-301-3249) specializes in financing for all income-producing properties, including multi-family, retail, office, industrial buildings and hotels. The company offers portfolio, construction, bridge, mezzanine and related loans and offers aggressive rates, quick turn-arounds and expedited closings.

GMAC Commercial Mortgage Corp. (215-328-3842) provided $4 million in permanent fixed-rate refinancing for Hoover Court Shopping Center, a 50,159 sq.ft. center located at the intersection of Highway 31 and Braddock Drive in Hoover, AL. The center is situated on a land area of 5.48 acres, is 100% occupied and is tenanted by Mitchell’s Day Spa, Green Valley Drug, Tuesday Morning and Attitudes.

First Financial Corp. (205-366-8460) offers commercial loans, real estate loans, credit enhancements and joint ventures for apartments, hotel/motels, healthcare facilities, office buildings, shopping centers, medical buildings, retail centers, casinos, resorts, sports complexes, farms, industrial sites, churches, golf courses and restaurants. The company minimum loan amount is $20 million.