NEW YORK, NY – January 8, 2026 – Ariel Property Advisors (Ariel) has arranged a $12 million refinance loan for a 27,000-square-foot, 60-unit, three-building multifamily portfolio located in the Sunnyside section of Queens, NY.

An Ariel Capital Services team, led by Senior Directors Matthew Dzbanek and Matt Swerdlow, represented the borrower in the transaction.

The refinance was executed mid-renovation, with approximately one-third of the buildings completed at the time of closing. Ariel successfully sourced a bank lender willing to underwrite construction risk and provide long-term financing, replacing higher-cost bridge debt.

The new loan increased total proceeds by approximately $1.75 million to the existing financing and reduced the borrower’s interest rate by more than 600 basis points. The loan was structured at 65% loan-to-cost with a 7.25% initial interest rate, a two-year interest-only period, and a five-year term. The financing includes a 5-3-1-0-0 prepayment structure and provides for a pricing reduction upon achievement of full occupancy.

“This transaction required getting a lender comfortable stepping in mid-renovation and recognizing the project’s long-term fundamentals,” said Matthew Dzbanek, Senior Director, Capital Services at Ariel Property Advisors. “By identifying the right banking partner, we were able to improve the client’s capital structure and replace short-term debt with a more stable, long-term solution.”