Penn South Capital Acquires Multifamily Property In East Village With MidCap Financial Loan

164-166 East 7th Street in East Village has recently been involved in a closed multifamily transaction. The property, owned by Penn South Capital represented by Parag Sawhney and Raymond Chera, was the subject of an acquisition loan from MidCap Financial in the amount of $10,230,000. The loan was secured by Ben Jacobs from Meridian Capital Group.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $10,230,000
• Lender: MidCap Financial
• Landlord: Penn South Capital - Parag Sawhney & Raymond Chera
• Broker: Ben Jacobs - Meridian Capital Group

The involvement of Parag Sawhney, Raymond Chera, and Ben Jacobs from Meridian Capital Group highlights the key individuals and companies associated with this transaction. The acquisition loan provided by MidCap Financial further solidifies the investment in 164-166 East 7th Street.