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Finance & Accounting By REW •   April 26, 2017 Eastern Union Funding arranged the following transactions: A $36.9 million first lien mortgage for the acquisition of an 11- building multifamily portfolio in Bronx, NY. This transaction was arranged by Jonathan Singer and David Metzger. A $10,500,000 first lien mortgage for the acquisition of a 197- unit multifamily in Pennsville, NJ. This transaction was arranged by David Singer. A $5,000,000 first lien mortgage for the refinance of a 61- unit multifamily on 40th St. in Sunnyside, NY. This transaction was arranged by Michael Muller. A $2,200,000 first lien mortgage for the acquisition of a 6, 800 sf industrial property on Route 114 in East Hampton, NY. This transaction was arranged by Marc Tropp. A $1,450,000 first lien mortgage for the refinance of a 3- unit multifamily on South Lakeshore Dr . in Browns Mills, NJ. This transaction was arranged by Jeffrey Seidenfeld and Jonathan Singer. ••• Meridian Capital announced t...

Demolition begins this week on a downtown San Pedro block that will be transformed into a seven- story apartment building that many hope will boost patronage for area shops, restaurants and the waterfront now beginning to take shape. Officials will mark the start of demolition at an informal groundbreaking at 9:30 a.m. Thursday at 550-560 S. Palos Verdes St . A more formal ceremony will be held in the coming weeks, according to the developer. Demolition is expected to take about a month and construction of the new 375-unit building should be complete in about three years, with the opening anticipated for 2020. It’s one of several residential developments planned to be built in and around the downtown San Pedro area over the next few years. Originally under the hands of Omninet Capital, the project was sold to Holland Partner Group in June for $24.5 million. Holland also is in exclusive negotiations to redevelop San Pedro ’s closed county courthouse just blocks away. Fewer, bigger...

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