NEW YORK, January 25, 2017 – Cushman & Wakefield has secured two loans that combine for $21,800,000. The loans closed at a fixed rate of 3.25% for a five-year term and will be used to recapture equity on two multifamily properties. The lender was Dime Savings Bank.

“We closed these loans in 45 days and were able to raise liquidity for our client who had a time-sensitive acquisition to fund. Luckily, we were able to execute an LOI with a lender that locked the rate at term-sheet execution so our client did not have to incur the cost of rising interest rates,” said Cushman & Wakefield’s Morris Betesh who exclusively handled the transaction with Justin Boruchov, Daniel Belecen and Omar Ferreira.

The multifamily properties are located at 108-20 62nd Drive in Forest Hills and 136-42 Maple Avenue in Flushing, Queens, totaling 135 residential units across 130,000 square feet.

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About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge -20with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.