Efstathios Valiotis Of Alma Realty Secures $92.5M Refinance Loan From Deutsche Bank For Multifamily Asset

Three residential elevator buildings located at 107-10 Shore Front Parkway, 106-20 Shore Front Parkway, and 106-10 Shore Front Parkway in Rockaway Beach, Queens, consisting of a total of 770 multifamily units have undergone refinancing. The transaction was completed with a loan amount of $92,500,000 from Deutsche Bank, which replaced a prior debt of $107.1 million held by Flagstar Bank.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $92,500,000
• Address: 107-10 Shore Front Parkway, 106-20 Shore Front Parkway & 106-10 Shore Front Parkway
• Market: Rockaway Beach, Queens
• Lender: Deutsche Bank
• Landlord: Efstathios Valiotis - Alma Realty
• Loan Type: Refinance
• Units: 770

Efstathios Valiotis of Alma Realty is the key individual associated with the transaction, representing the landlord in the refinance deal. The prior lenders were Flagstar Bank, which held the previous debt prior to this transaction.