Ariel Property Advisors has successfully arranged a refinancing loan of $11.57 million for a portfolio consisting of 61 units spread across six mixed-use buildings in the Mott Haven neighborhood of the South Bronx.
The team at Ariel Capital Services Group, led by senior director Matt Swerdlow and supported by senior director Matthew Dzbanek and associate Anthony Priest, secured the loan on behalf of their repeat client. The financing was provided by a national multifamily lender with non-recourse terms that were highly favorable, including an interest rate of 5.35%, five years of interest-only payments, and a fixed rate for seven years.
According to Swerdlow, “Our team utilized our extensive knowledge about both the lender’s capabilities and the South Bronx market to secure below-market financing terms for this portfolio.” He also added that this is their second successful financing deal with this particular borrower in 2024 alone totaling $20 million. This further solidifies their strong relationship with them as they continue to work together towards success.
