Owemanco Provides $8M Loan For Mixed-Use Portfolio In Brooklyn By Sohail Zayona

The mixed-use property located at 3008 Fulton Street in Cypress Hills, Brooklyn was involved in a $8,000,000 term loan for recapitalization. The loan, provided by Sohail Zayona of Owemanco, had a 12-month term with a partial release provision. The loan was secured by a portfolio of 9 commercial and residential properties across New York City, with a focus on various parts of Brooklyn.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $8,000,000
• Lender: Sohail Zayona - Owemanco
• Landlord: Ramzey M. Ahmad
• Loan Type: Recapitalization
• Loan Terms: 12-month term with partial release provision

Owemanco, a Toronto-based balance sheet bridge lender, structured the $8,000,000 term loan to support the sponsor's efforts in recalibrating their financing across the portfolio. Ramzey M. Ahmad, the landlord, was the key individual involved in the transaction.