Ariel Property Advisors’ Capital Services team has arranged a combined $24 million in financing for the acquisition of a portfolio of four townhouse properties across some of Brooklyn’s most sought-after neighborhoods, including Cobble Hill, Boerum Hill, Park Slope and Williamsburg. Senior directors Matthew Dzbanek and Matt Swerdlow arranged the loans with one debt fund on behalf of the sponsor, who plans a mix of condo conversions and townhouse renovations.
The properties included the following:
- Cobble Hill: $4.44-million acquisition loan for a three-unit, 2,220-square-foot townhouse.
- Williamsburg: $4.61-million acquisition and construction loan for a 3,600-square-foot single-family townhouse.
- Boerum Hill: $10-million acquisition and development loan for a 10-unit townhouse project.
- Park Slope: $5-million acquisition loan for a four-unit, 8,632-square-foot townhouse.
“These transactions demonstrate Ariel’s continued strength in securing financing solutions across Brooklyn’s prime brownstone neighborhoods,” said Dzbanek. “Despite varying deal structures and property types, lenders remain confident in the long-term fundamentals of the borough’s boutique residential areas.”
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