Black Bear Arranges $25.5M Loan for Refinancing of Three Apartment Buildings in The Bronx

NEW YORK CITY — Black Bear Capital Partners has arranged a $25.5 million agency loan for the refinancing of three apartment buildings totaling 146 units in The Bronx. The properties are located at 2320 Aqueduct Ave., 2828 Valentine Ave. and 2885 Valentine Ave. PGIM Real Estate provided the loan through Fannie Mae’s Green Rewards program. The borrower was an undisclosed private investor. Bryan Manz, Emil DePasquale, Phil Bowman, and Jack Cohen of BBCP arranged the financing package. The loan was structured with a fixed interest rate of 3.14 percent for 12 years with five years of interest-only payments followed by a 30-year amortization schedule.