The Hakimian Organization Certes Partners And Red Pine Capital Partners Secure $75 Million Refinance Loan In East Harlem

The asset involved in this transaction is a multifamily property located at 215 East 124th Street in East Harlem, consisting of 141,286 square feet with a total of 113 units. The transaction is a refinance amounting to $75,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $75,000,000
• Loan Type: Refinance
• Lender: Ben Gray - Apollo Global Management; Steve Gordon - Pearlmark Real Estate
• Landlord: @CertesPartners; The Hakimian Organization; Red Pine Capital Partners
• Capital Advisor: Faisal Ashraf – Lotus Capital Partners

The transaction was facilitated by Lotus Capital Partners, which arranged and structured the refinancing package for The Hakimian Organization, @CertesPartners, and Red Pine Capital Partners regarding The Reserve NYC. The funding was provided through a mix of senior debt from Apollo Global Management and mezzanine financing from Pearlmark Real Estate.