Commercial/Retail

West Hollywood, California

Originated a $1.1MM B Note on a 12,500 square foot 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.

Land Assemblage

New York, New York

$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 close the transaction in just 16 days. The investment requires only six months of minimum interest making it attractive to the sponsor.

Luxury Condominium/Retail Development

New York, New York

$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.

Luxury Condominium Development

New York, New York

$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.

Commercial/Retail

Miami Beach, Florida

Originated a $9MM First Mortgage Bridge Loan to the fee simple owner of a property subject to a ground lease currently encumbering the property. The loan provided liquidity to the borrower prior to a rent reset set to trigger in within a year of loan closing.