NEW YORK, NY – September 23, 2016 – Ariel Property Advisors’ Capital Services Division recently arranged the financing for three properties in the Northeast located in New York, New Jersey, and Maine.

The division arranged a cash-out refinance for a 10-unit mixed-use building in the Bathgate section of The Bronx. The financing consisted of a 5-year hybrid, non-recourse Freddie Mac Small Balance Loan at 3.6% within 15 months of the owner acquiring the property.

They also negotiated a cash-out refinance for a 12-unit multifamily property located on 2nd Avenue in Long Branch, New Jersey. The owner received a 5- year mortgage with a stepdown prepayment penalty and a 5-year extension option at 3.5%. Property had Section 8 voucher tenants and month-to-month leases.

Lastly, they arranged acquisition financing for an 8-unit multifamily property located on Brook Street in Sanford, Maine. This loan was 5- year mortgage at 3.99% with a stepdown prepayment penalty utilizing crowdfunding sources for equity.