Chicago – Cohen Financial, a national real estate capital services firm, today announced that Dan Rosenberg, Managing Director of Cohen Financial in the Chicago office, secured a total of $31.39 million for three multifamily properties. Each property is well leased.
He secured a $6.75 million refinance for the Iron Gate Apartments, a 129 unit multifamily property in Glen Ellyn, Illinois just north of Chicago. Mr. Rosenberg secured a $16.965 million acquisition loan for Lofton Place, a 280 unit multifamily complex in Tampa, Florida. He also secured a $7.575 million bridge loan for Azalea Apartments, a 160 unit apartment complex in Greenville, South Carolina. Mr. Rosenberg secured a fixed rate, 10-year term loan for the Iron Gate and Lofton Place properties. The lender for Iron Gate is Loancore Capital, LLC. The lender for Lofton Place and Azalea Apartments is Greystone & Co, an FHA and Fannie Mae lender for multi-family housing.
“Each transaction was unique,” said Mr. Rosenberg. “The borrowers were very pleased that we were able to negotiate favorable terms for each financing and that we were able to close before the recent interest rate increase.”
Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, investment brokerage, loan administration and advisory services. The company was named top originator for specialty finance in the MBA 2012 Commercial Real Estate/Multifamily Finance Firms--Annual Origination Volumes report. Cohen Financial is well recognized as one of the nation's leading loan servicers and special servicers, as well as an originator of commercial and multifamily real estate financing. Known for finding innovative solutions to meet client needs, the company recently launched an Equity Practice to help borrowers complete their capital needs and an enhanced Capital Advisory and Valuation Services to assist financial institutions and investors to better evaluate assets and investment opportunities. Cohen Financial serves clients throughout the U.S. from offices in 10 major markets.