Berkadia Secures $126.41 Million Refinance Loan For Mixed-Use Asset In New Rochelle

The property asset involved is a mixed-use development located at 50 Clinton Place, New Rochelle, featuring a total of 390 units. The transaction includes a refinance loan amounting to $126,407,000, structured under an eight-year Fannie Mae Near Stabilization loan with amortization over 35 years.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $126,407,000
• Address: 50 Clinton Place
• Market: New Rochelle
• Loan Type: Refinance
• Loan Terms: Eight-year, Fannie Mae Near Stabilization loan amortized over 35 years
• Landlord: Tyler Faubion - Bridge Investment Group & Kyle Durning - RXR
• Lender: Berkadia
• Landlord's Rep: Brad Williamson, Chris Ellis, Mitch Sinberg, Scott Wadler, Matthew Robbins, Kevin Batt, Brian Huff & Matt Schildwachter - Berkadia; Paul Patafio - Hudson Realty Capital

Key individuals involved in this transaction include the landlord representatives from Berkadia and Hudson Realty Capital, who played significant roles in facilitating the refinancing process. The transaction was supported by experienced brokers ensuring a smooth deal progression throughout the negotiation stages.