CBRE CAPITAL MARKETS ARRANGES $8 MILLION ACQUISITION/CONSTRUCTION LOAN
NEW YORK CITY — CB Richard Ellis (CBRE) Capital Markets has arranged $8 million in acquisition and construction financing for five multifamily buildings located in the Bronx, New York City. The four-story, walk-up buildings contain a total of 105 vacant units and are located at 4289-4305 Park Ave. and 422 E. 178th St. The loan, which was arranged by Max Herzog and Michael Diaz of CBRE Capital Markets, includes an 18-month term with an 8.5 percent floating interest rate. The lender is a foreign bank.