Black Bear Capital Partners ("BBCP") Secures $7M Evergreen Credit Line for 4,000-Unit NY Portfolio
FINANCED
$7,000,000
National
See Similar DealsMultiFamily1 SF
Financed 07/01/2024
FINANCED
Black Bear Capital Partners ("BBCP") Secures $7M Evergreen Credit Line for 4,000-Unit NY Portfolio
MultiFamily1 SF
Financed 07/01/2024
Summary
Asset Type:MultiFamily
Price Per Square Foot:$7,000,000
Total Square Footage:1 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,000,000.00
Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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