REBusinessOnline

Black Bear Capital Arranges $186.4M for Refinancing of Multifamily Portfolio in The Bronx

NEW YORK CITY — Black Bear Capital Partners (BBCP) has arranged $186.4 million for the refinancing of a portfolio of 16 multifamily properties totaling 1,126 units in The Bronx. Bryan Manz, Emil DePasquale, Phil Bowman and Jack Cohen of BBCP arranged 16 separate loans through Fannie Mae’s Green Rewards program, which provides savings to apartment owners that commit to reducing annual water and/or energy usage by at least 30 percent. The borrower was locally based owner-operator Finkelstein Timberger East Real Estate. The loans were structured with an averaged fixed interest rate of 2.98 percent for 12 years with partial interest-only payments, followed by 30-year amortization schedules. 

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