Naftali Credit Partners has successfully completed two mezzanine loans, marking the fourth and fifth deals of its second opportunistic debt fund. These latest transactions bring the total investment by Naftali Credit Partners since last March to approximately $104 million.
The first loan, totaling $18 million, was provided to New Empire for their luxury condominium and retail development at 24-01 Queens Plaza North in Long Island City. In addition to financing the mezzanine piece, Naftali Credit Partners also structured the entire loan and syndicated a senior position worth $72 million through Axos Bank.
Magnum Real Estate Group has also received a $13.4-million mezzanine loan from Naftali Credit Partners for their upcoming luxury condo and retail property at 813-815 Broadway in Greenwich Village. Once again, Naftali Credit Partners took on responsibility for structuring the full construction loan of $38.4 million and syndicating a senior position with Israel Discount Bank.
