Eastern Union Arranges $30M Investors Bank Refi for Hudson Companies' 22 Caton Place in Brooklyn
Thursday, June 30, 2016
Investors Bank has provided Hudson Companies with a $30 million permanent loan to refinance its construction loan at 22 Caton Place in the Kensington/Windsor Terrace area of Brooklyn, Commercial Observer has learned.
The loan, which replaces a $19 million construction loan from Wells Fargo, closed on Tuesday, Hudson Principal Alison Novak said. Eastern Union Funding’s David Metzger and Nate Hyman negotiated the deal. He said that the deal includes only a year of interest and was done in the knick of time as the Wells Fargo loan was due to mature tomorrow.
“It was an existing relationship with Investors Bank,” Metzger said. “Investors Bank loves Hudson Companies.” And, the bank loves 22 Caton Place in particular because of its LEED Gold status and its plethora of amenities which include vegetable gardens on the roof and an urban farmer who provides advice and support as well as a concierge, a pet grooming room, a gym and a yoga studio, a lounge, a children’s playroom, a boule court, a landscaped courtyard and roof terrace with barbecue.
About Eastern Union Funding Founded in 2001, Eastern Union Funding is a top 10 commercial mortgage brokerage firm according to Mortgage Bankers Association’s annual survey, and one of the top 50 fastest growing companies in NYC as reported by Crain's New York Business the past two years straight. A trusted advisor to its clients and innovation leader in the commercial mortgage marketplace, Eastern Union closes an average of $3 billion in annual transaction volume nationwide. The firm’s sophisticated debt solutions are complemented by a one-of-a-kind Equity Division. Eastern Union is headquartered in New York, with offices in New Jersey, Maryland and Israel. For more on the country’s most trusted commercial mortgage brokerage, visit www.easternuc.com.
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