Ariel Property Advisors Arranges $45M In Financing On New Deals Across U.S.


Recent Closings Cap Another Active 12 Months of Growth for Ariel’s Capital Services Division

Ariel Property Advisors’ Capital Services Division enjoyed an active end of 2020 and hit the ground running in 2021 with approximately $44.5 million in financing for a diversified collection of properties across the country. Led by Paul McCormick, Senior Vice President, Investment Sales and Capital Services, the team of Matt Dzbanek, Director, Capital Services; Matt Swerdlow, Director, Capital Services; and Eli Weisblum, Director, Capital Services, have remained nimble in a changing environment to arrange a number of advantageous financing solutions aligned with their clients’ business and investment needs.

“With low interest rates and industry optimism coming out of a tumultuous year, there is a large amount of dry powder in real estate capital markets right now,” said Weisblum. “For lenders across the country, there is a pent-up appetite for the right deals.”

Led by Weisblum, Ariel arranged $14 million in financing on the $20 million acquisition of a 140,000-square-foot R&D office in Clear Lake, Texas, outside of Houston. With 100 percent occupancy, Ariel secured a five-year term loan with a 4.25% interest rate and a 30-year amortization. Weisblum also led financing for a repeat client’s acquisition of a suburban Cleveland office park in North Olmsted, Ohio. Despite 37 percent vacancy, the client saw growth potential in the suburban office market and Ariel secured a $7.63 million permanent loan with no holdbacks or reserves.

Dzbanek led Ariel’s team on a $6 million refinance loan for a 93-unit multifamily portfolio in Manhattan. In order to address necessary capital expenditures, Ariel arranged financing that included $3 million in cash back to the borrower. In terms of equity capital, Dzbanek also arranged a strategic JV partnership between a foreign investor and a seasoned NYC owner/operator to acquire value-add properties throughout Brooklyn. The partnership closed their first of several acquisitions recently in the Bedford-Stuyvesant neighborhood of Brooklyn.

“We are seeing a great deal of interest from lenders right now, especially in growth markets and markets poised to rebound in 2021,” said Dzbanek. “Multifamily in New York is particularly of interest to both buyers and lenders.”

Led by Swerdlow, Ariel arranged $3.55 million in financing for the cash out refinance and partner buyout of a vacant community facility condominium in Yorkville on the Upper East Side of Manhattan. With a daycare lease in place at the time of closing, Ariel was able to arrange interim financing through a lender intimately familiar with the neighborhood and tenant. Additionally, Swerdlow led Ariel’s team on the $3.38 million cash out refinance for a package of medical office condominiums across the street from Elmhurst Hospital in Queens. Because the units were market-aligned with the neighboring hospital, Ariel coordinated competition from a number of lenders looking to capitalize on the growing need for medical office facilities.

“In addition to the household names, there are also new players in the debt market, and it is creating a dynamic, competitive ecosystem for the year ahead,” said Swerdlow. “Not all retail and office spaces are the same, and lenders definitely recognize the potential that many properties present for growth in the years ahead. A great sign for 2021 is the interest we’re seeing from multiple lenders to compete for these opportunities.”

About Ariel Property Advisors

Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the New York metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry.

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