Updated Mar 24, 2026
Black Bear Capital Partners ("BBCP") Secures $7M Evergreen Credit Line for 4,000-Unit NY Portfolio
$7,000,000
$7,000,000/SF
Building Size
1 SF
Asset Type
MultiFamily
Closing
Jul 1, 2024
About this deal
AI
The asset involved in this transaction is a commercial real estate portfolio consisting of over 4,000 rental units, located in the New York market. The deal was facilitated through a liquid access line loan with a total amount of $7,000,000, which follows an evergreen structure that allows for annual renewal.
Summary of transaction details:
- Property Type: CRE Portfolio
- Transaction Amount: $7,000,000
- Lender: Morgan Stanley
- Landlord: Finkelstein Timberger East Real Estate (FTERE)
- Brokers: William McGovern & Emil DePasquale - Black Bear Capital Partners
- Loan Type: Liquid access line
- Loan Terms: Evergreen; annual renewal
The transaction involved key individuals and companies including lenders Morgan Stanley and landlords Finkelstein Timberger East Real Estate (FTERE). The deal was brokered by William McGovern and Emil DePasquale from Black Bear Capital Partners, ensuring the financial terms were beneficial for the involved parties.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93