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EMP Capital Group Secures $109M Construction Loan In Prospect Heights

Property Image
FINANCED
$109,000,000
Mo Beler
Keith Kurland
Adam Schwartz
+ 4

New York

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MultiFamily
Financed 03/15/2024
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Property Image
FINANCED

EMP Capital Group Secures $109M Construction Loan In Prospect Heights

1034-1042 Atlantic Avenue

See Similar Deals
MultiFamily
Financed 03/15/2024
Mo Beler
Keith Kurland
Adam Schwartz
+ 4
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 1034-1042 Atlantic Avenue in Prospect Heights consists of 247 units. The loan for this asset was provided by QuadReal Property Group to EMP Capital Group. The brokers involved in this transaction from Walker & Dunlop were Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Mo Beler, Jordan Casella, and William Herring.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $109,000,000
  • Loan Type: Construction

The key individuals instrumental in this deal include Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Mo Beler, Jordan Casella, and William Herring from Walker & Dunlop. These professionals played pivotal roles in facilitating the construction loan for the multifamily property in Prospect Heights.

Players

Aaron Appel
Walker & Dunlop
Aaron Appel
190 deals$31.9B volume
BROKER
Jonathan Schwartz
Walker & Dunlop
Jonathan Schwartz
165 deals$26.9B volume
BROKER
Keith Kurland
Walker & Dunlop
Keith Kurland
170 deals$29.1B volume
BROKER
Adam Schwartz
Walker & Dunlop
Adam Schwartz
160 deals$25.4B volume(646) 491-8869
BROKER
Mo Beler
Walker & Dunlop
Mo Beler
35 deals$6.4B volume
BROKER
William Herring
Walker & Dunlop
William Herring
8 deals$1.1B volume
BROKER
Jordan Casella
Walker & Dunlop
Jordan Casella
18 deals$3.5B volume
BROKER
QuadReal
QuadReal
LENDER
EG
EMP Capital Group
LANDLORD

Details

FINANCED
IMAGE: Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Mo Beler, Jordan Casella & William Herring DATE: 3/15/2024 ADDRESS: 1034-1042 Atlantic Avenue MARKET: Prospect Heights ASSET TYPE: Multifamily ~ UNITS: 247 LENDER: QuadReal Property Group LANDLORD: EMP Capital Group BROKERS: Keith Kurland (@KaKurland), Aaron Appel, Jonathan Schwartz (@JSchwa1386), Adam Schwartz (@AdamSchwartz88), Mo Beler (@MBeler), Jordan Casella & William Herring - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $109,000,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$109,000,000.00

Monthly NOI$726,666.67
Monthly Debt Service$688,954.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00