NATIONAL FOOTPRINT

Backed by a century’s worth of knowledge and expertise, Cronheim Mortgage provides a vast array of real estate services, including debt and equity for investment grade real estate. By leveraging the strong correspondent and/or servicing relationships we have cultivated with our institutional investors, including many insurance companies, we have continuously had access to substantial debt and equity capital to invest in quality real estate at pricing well below alternative sources, especially for long-term debt. We stand out from our competitors with our strong debt servicing portfolio, currently in excess of $2,000,000,000.  Moreover, through our Channel Real Estate Funds affiliate, we have efficiently and cost-effectively provided mezzanine and equity capital for numerous real estate assets. We have placed debt/equity and serviced in 30 states, and continue to capitalize on new opportunities.

REPRESENTATIVE TRANSACTIONS

To view more of our hospitality representative transactions, please visit our hospitality branch, CRONHEIM HOTEL CAPITAL, at http://www.chccapital.com/

Mountainview Terrace Apartments - Latham, NY

Updated: Sep 12, 2018


$9,300,000 flexible prepay fixed rate in Latham, NY


Dev Morris and Andrew Stewart of Cronheim Mortgage have arranged financing totaling $9,300,000 for Mountainview Terrace apartments, located on Pollock Road, in Albany County, NY. The 10/30, fixed-rate financing was arranged for the borrower, Mountainview Terrace Apartments, LLC. Cronheim Mortgage services this loan which was structured with a flexible prepayment schedule.

According to Dev Morris, “It is rare when a financing can be structured in order to offer both a fixed rate as well as flexibility to prepay. Some of our lenders will offer this to win business in a competitive environment like we have today.” Cronheim now services loans on well over 3,000 apartments in the greater Albany area.

The Subject consists of nine, three-story garden style apartment buildings encompassing 128 units, ranging in size from 685 square feet to 1,300 square feet. There are 58 one-bedroom units, 53 two-bedroom units, 16 three-bedroom units, and 1 four-bedroom unit. The Subject’s neighborhood is bounded by Route 7 to the north, Route 155 to the south, Route 9 to the east, and Interstate 87 to the west. Proximity to these major thoroughfares provides exceptional access to the local area and the surrounding counties, known as the Capital District.

 

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