Office Conversion, Long Island City, NY
$14,000,000 First Mortgage
The Borrower sought a structured loan that refinanced the existing senior debt, provided substantial cash-out, and included “good news” funds to facilitate the asset’s conversion from a museum to office space.
3 Building Multifamily Portfolio Refinance, East Orange, NJ
$7,700,000 First Mortgage
The Borrower sought a time-sensitive cash out on a portfolio of buildings in order to free up liquidity in furtherance of another acquisition. Cerco closed the deal in 10 days.
470-unit multifamily asset in Detroit, MI
$7,000,000 First Mortgage
Cerco Funding is proud to announce the closing of a $7mm senior bridge loan secured by a 470-unit multifamily asset in Detroit, MI. The structured loan replaced existing senior financing and provided the Sponsor with a future funding component to be used in furtherance of making additional improvements to the property.
Redevelopment Site Acquisition, Green Point, NY
$4,000,000 First Mortgage
The Borrower sought acquisition financing for a redevelopment site in Green Point, NY. Cerco Funding's understanding of the market allowed it to see substantial merit in the asset and provided timely bridge financing.
Multifamily Portfolio Acquisition and Renovation, New Haven, CT
$1,875,000 First Mortgage
The Borrower sought acquisition and renovation financing for a 54 Multifamily Unit Asset in New haven, CT. Cerco provided timely bridge financing, enabling the Borrower to effectuate a timely closing and proceed with the renovation.