Deutsche Bank Provides $24M Refinance Loan For Mixed-use Asset In Manhattan And Bronx

This transaction involves a mixed-use asset comprising six buildings, with a primary focus on office, retail, and multifamily components. The buildings consist of four assets located in Manhattan and two assets situated in the Bronx. The property is characterized by a 40% office and retail income composition and 60% residential income, structured around a $24 million refinance loan.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $24,000,000
• Lender: Deutsche Bank
• Broker: Michael Lee - HKS Real Estate Advisors
• Loan Type: Refinance
• Loan Structure: 5 year IO loan with a $5 million cash out
• Assets in Manhattan: 4
• Assets in Bronx: 2
• Income Composition: 40% office/retail, 60% residential

Michael Lee from HKS Real Estate Advisors represents the broker side of the transaction, facilitating the refinance deal between the lender and the property owner. This transaction reflects an adaptive financial strategy through leveraging multiple property types across distinct urban markets.