BEB Lending, the finance platform of BEB Capital, has provided a $9 million, 12-month acquisition bridge loan to Orsipel V LLC for the purchase of a mixed-use property at 53 and 55 Stone St in Lower Manhattan’s Financial District. The 5-story building constructed in 1900 features seven residential units and two restaurant tenants – Revolution Taco and Underdog.
This loan transaction marks the first loan originated by BEB Credit Opportunity Fund – an extension of BEB Lending that offers financing solutions for commercial real estate assets across primary and secondary markets in US with loans up to $50 million targeting cap of $150 million with projected gross returns between thirteen to fifteen percent. Sean Silverbrook represented BEB Lending internally during this transaction.
