PRUDENTIAL ARRANGES $71M LOAN FOR OLYMPIA HOUSE

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NEW YORK CITY — Prudential Mortgage Capital Co. has arranged a $71 million Fannie Mae loan for Olympia House, a 22-story mixed-use property in Manhattan. The seven-year, fixed-rate loan will allow the borrower to refinance the property with cash out above the current loan amount. Built in 1964, the property consists of 240 apartments and 12,170 square feet of commercial space. The property on East 44th Street is across from the United Nations headquarters and two blocks from Grand Central Station. Bob Bakhchi and Jonathan Aghravi of Hybrid Capital represented the borrower in the transaction.

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