- Originated a $1.1MM B-Note on a 12,500 SQFT retail redevelopment in West Hollywood, CA. The loan, funded in 3 weeks from term sheet to closing, helped the borrower acquire the property and allow them to begin their repositioning of the property.
- $6MM Preferred Equity Investment to finance an assemblage in the Gramercy sub-market of Manhattan. The financing supplemented an acquisition loan of $24MM. The sponsor sought a fast-paced lender. New Gables was able to clos the transaction in just 16 days. The investment requires only six months of minimum interest making it attractive to the sponsor.
- $6MM Pre-Development Mezzanine loan to finance excavation, preliminary site work and development costs prior to the construction of a 12 story residential and retail condominium project in the Chelsea neighborhood adjacent to the Highline in New York, NY. The financing supplements the existing $14.75MM first mortgage loan for the project and allows for continued progress towards completion of the improvements.
- Originated a $9MM First Mortgage Bridge Loan to the fee simple owner of property subject to a ground lease currently encumbering the property. The loan provided liquidly to the borrower prior to a rent reset set to trigger in within a year of loan closing.
- $9MM Preferred Equity Investment secured by the partnership interests in a high-rise comprised of 25 luxury units. The preferred equity funds are being utilized to complete the development.