October 31, 2019
CBRE Capital Markets’ Debt & Structured Finance team secured a $6.0 million loan for the acquisition of a multifamily portfolio consisting of three residential properties in Yonkers, New York. Jared Sobel, vice president, of CBRE’s Midtown Manhattan office arranged the financing on behalf of the borrower. The five-year, interest-only, non-recourse, fixed-rate loan in the mid three percent range, was provided by Freddie Mac.
“The acquisition of this residential portfolio represented a terrific opportunity for our client to enter a submarket outside of Manhattan where real estate values are flourishing,” said Mr. Sobel. “Cap rates in the portfolio were at favorable levels for the borrower, offering significant upside.”
Totaling 63 residential units, the three-building portfolio was sold by Michael Nukho, principal broker, and Lukasz Przybylek, associate broker, both representing Yonkers-based NuRealty Advisors, Inc.
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