New York, NY GCP Capital Group LLC has arranged three mortgage financings totaling $37.625 million:
• $28, million for a three-story historic office building comprised of 141,000 s/f in Garden City. Matthew Classi, managing member of GCP, arranged the financing.
• $5.3 million for a senior citizen garden apartment complex comprised of three buildings with a total of 54 units in Copiague. Classi arranged the financing.
• $4.325 million for a single-story multi-tenanted, retail commercial building comprised of 22,400 s/f in Hicksville. Classi arranged the financing.
When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.