New York Real Estate Journal

GCP Capital Group LLC arranges multiple mortgages totaling $162.267m

August 25, 2014 - Brokerage
GCP Capital Group LLC, one of the nation's most active companies specializing in investment real estate finance, has arranged financing in the amount of $162.267 million for the following properties: * $80 million for a 6-story apartment building containing 272 units, located in the East Harlem section of Manhattan. Paul Greenbaum, managing member of GCP, arranged the financing. * $8.5 million for a 6-story apartment building containing 19 units, located in the Gramercy Park section of Manhattan. Adam Hakim, senior associate of GCP, arranged the financing. * $3.69 million for a 5-story mixed-use apartment building containing 50 units and 2 stores, located on LaFontaine Ave. in the Bronx. Adam Brostovski, principal of GCP, arranged the financing. * $1.827 million for a portfolio of 3 two-story buildings containing a total of 12 units, located throughout Ridgewood, Queens. Matthew Albano, senior broker of GCP arranged the financing. * $1.1 million for a 4-story apartment building containing 7 units, located on Loring Place in the Bronx. Brostovski arranged the financing. * $7.35 million for a partially vacant, 8-story office building comprised of 46,900 s/f, located in the Bronx. Brostovski arranged the financing. * $6 million for a 6-story elevator mixed-use building containing 10 apartments and 1,900 s/f of retail space, located on Ninth Ave. in Manhattan. David Sessa, senior associate of GCP, arranged the financing. * $29 million land loan for a to-be-built luxury condominium building comprised of 126,200 s/f, located in the Hudson Sq. neighborhood of downtown Manhattan. Hakim arranged the financing. * $10.2 million construction loan for the development of a 7-story building containing 36 apartments and ground floor retail of 5,000 s/f, located on Fulton St. in Brooklyn. Albano arranged the financing for this transaction. * $9.4 million for a 7-story, mixed-use building containing 7 apartments and 1 commercial unit, located in the SoHo. Hakim arranged the financing. * $5.2 million for 3 four-story residential buildings containing a total of 15 apartments and 3 commercial units, located in Long Island City. Albano arranged the financing. GCP manages three North American private equity funds that have invested $1.2 billion in over 50 portfolio companies. GCP has monetized 35 of these investments, returning $2.2 billion in proceeds. The funds have made investments in the business services, energy, financial services, insurance and telecommunications industries. GCP generally makes controlling or influential minority investments of $10 million to $50 million in companies with enterprise values of $20 million to $250 million.