Zions Capital Markets Arranges $46.15M Refinance For Parlanti Group's Brooklyn Multifamily Portfolio

The transaction involved a portfolio of multifamily properties located at 2911 Brighton 5th Street, 230 73rd Street, 6309 Bay Parkway, 9302 Ridge Boulevard, and 1302 Newkirk Avenue in Brooklyn. The properties are 100% rent-stabilized and were financed as part of a refinancing effort led by Zions Capital Markets.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $46,150,000
• Lender: Zions Capital Markets
• Landlord: Parlanti Group
• Loan Type: Refinance
• Loan Terms: 5-Year, Full Term Interest Only

Angelo Mannino of Zions Capital Markets arranged a complex financing package that supported three refinances, two acquisitions, and a recapitalization of costs for the Parlanti Group. The deal required a sophisticated capital structure reflecting an understanding of the complexities within the Brooklyn rent-stabilized market.