Friday, April 5, 2019

Arbor Funds $5.3 Million Bridge Loan in Oak Forest, IL

Ryan Duff

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a bridge loan in Oak Forest, IL.

reVerb Oak Forest, a 72-unit multifamily property, received $5.3M in funding through the program.

Ryan Duff of Arbor’s New York City office originated the loan.

“Facilitated by our agility and expertise, Arbor was able to step in mid process, due to an outside lender retrade, and close quickly with no lockout on the prepayment,” Duff said.

reVerb Oak Forest, Oak Forest, IL
 “We were committed to finding a solution for the borrower, a repeat customer, who intends to settle into management, take over operations and immediately begin the refinance process into a long-term fixed-rate product.”
Built in 1969 and renovated in 2008, reVerb Oak Forest residences offer in-unit washer/dryer, granite countertops, laminate wood flooring and private balconies.

Community amenities include a landscaped courtyard with a gazebo, on-site parking and a security surveillance system. The property is in close distance to the Cook County Forest Preserve, George W. Dunne National Golf Center and Rock Island District Metra Line.
Arbor Funds $29.5 Million Fannie Mae® SRL Loan in Dallas, TX

Alexan Riveredge, Dallas, TX

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae® Streamlined Rate Lock (SRL) loan in Dallas, TX.

Alexan Riveredge, a 309-unit multifamily property, received $29.5M in acquisition funding through the program. The loan features a 10-year, interest only, fixed-rate term.

Greg Gillam of Arbor’s Manhattan Beach office originated the loan.

Greg Gillam
“The time to close this purchase was extremely short as the borrower was selected from a competitive pool of potential buyers based on his projection of a smooth and expeditious closing process,” Gillam said.

“Thanks to Arbor’s all-encompassing product platform, we were able to utilize the Fannie Mae Streamlined Rate Lock, which allowed the borrower to lock at a favorable rate and close quickly for this purchase.”
Built in 2016, Alexan Riveredge is a luxury building that features a subsurface parking garage, resort-style swimming pool, rooftop lounge area, fitness center, adjoining jogging trail, dog park, clubhouse, business center, and game room. In-unit amenities include walk-in closets, washer/dryer machines, granite countertops, garden tubs, and patios/balconies in select units.


Bina Handa
Tel: 516.506.4229

Pollack Shores to Open Active Adult Community in Ponte Vedra, FL

Olea at Nocatee, 50 Pine Shadow Parkway, Ponte Vedra, FL

ATLANTA, GA (April 5, 2019) – Multifamily developer and investment firm Pollack Shores Real Estate Group today announced Olea at Nocatee, a 175-unit active adult apartment community located at 50 Pine Shadow Parkway in Ponte Vedra, Florida.

Olea at Nocatee marks the second project under Pollack Shores’ newly launched, age-targeted Olea brand, which provides residents with an active, flexible lifestyle and community events such as chef demonstrations, happy hours and multiple fitness classes each week. 

Construction will commence in April 2019, with first move-ins scheduled for July 2020.

Steven Shores

“Nocatee’s rapid growth and exceptional quality of life make it the ideal setting for our second addition to our Olea portfolio,” said Steven Shores, President and CEO of Pollack Shores. 

“There is clear demand for high-caliber active adult communities within Jacksonville, and our unique development will be tailored to the growing population of Class A renters moving to the area. 

"The Olea brand will continue to be a top focus for Pollack Shores as we expand in key markets across the Sun Belt.”


Emma Lynch · Account Coordinator
1718 Peachtree St., Suite 1048 · Atlanta, GA 30309
M: 770-826-8155

Nick Banaszak
The Wilbert Group
256-457-5384 (C)
For more information about Pollack Shores, please visit
For more information about Matrix Residential, please visit
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StackSource Closes $19.4 Million CMBS Loan; Expands Originations to 12 U.S. States

Tim Milazzo

New York, NY (April 5, 2019) --  PropTech startup StackSource today announced it closed a $19.4 million CMBS loan for two retail properties in Harrisburg, PA and Keene, NH, making it operational in twelve U.S. States.   

StackSource is disrupting the $3 trillion commercial mortgage market by offering commercial real estate owners across the country greater access and transparency in the financing process.  

Tim Milazzo, co-founder and CEO said, “StackSource offers real estate investors the opportunity to execute financing on their projects faster, and with more control over the process.

"Our platform not only simplifies and streamlines the process of securing a loan, but also gives the full support of a capital advisor no matter where the borrower or property are located.

"We’ve arranged financing for multifamily properties in the heart of New York City, retail in Missouri, and office in California.”

Justin Wolk
The $19.4 Million loan closed with Starwood Mortgage Capital, financing two retail properties:  The Shoppes at Susquehanna (Harrisburg, PA) and Center at Colony Mill (Keene, NH).

StackSource Capital Advisor Justin Wolk negotiated the transaction, successfully navigating a complex ground-lease negotiation that closed simultaneously.  The total transaction value exceeded $40MM.

“We worked with our lending partner to understand the complex ground lease dynamics and together, we were able to structure this transaction is a way that was effective, transparent and beneficial for all parties involved,” Wolk shared.

Wolk recently joined the StackSource team, following a successful career in real estate development. After developing 250,000 square feet in the Greater NYC area over the last decade and raising money for his own transactions, Wolk sold his company, Justinian Development, and moved into securing funding for real estate deals, which is now his full-time focus for StackSource.

Nathan Wall
Capital Advisors like Wolk benefit from the efficiency of the StackSource platform, which allows them to spend more time providing financing solutions for their clients and closing more deals.

“We simply have a technological advantage over 99% of the capital markets professionals because of StackSource, and it is StackSource’s platform coupled with the firm’s desire to hire experienced real estate professionals that truly allows us to make an immediate impact in the real estate investment banking world.” Wolk continued.

Where developers and lenders have traditionally relied on local mortgage brokers to facilitate connections and complete deals, StackSource’s new digital marketplace provides immediate lender matching, data system integration for instant diligence, and a platform to manage the underwriting process end-to-end - all from the comfort of a computer or mobile device.

Tom Wisniewski
“What makes StackSource unique is that we are a tech company first - not a real estate company trying to figure out tech,” said Nathan Wall, co-founder and CTO.  

“We’ve updated a process that is outdated, and didn’t truly bring transparency for any of its stakeholders.  StackSource makes it easier for our lending partners to access great projects - and it gives borrowers an opportunity to control the terms of their funding.”

StackSource allows potential borrowers to fill out one simple online loan request, compare loan offers from top lenders, and work with an experienced capital advisor to assist through the entire process, including negotiations with lenders.

Whereas a traditional commercial mortgage broker relies on a tight band of close lending relationships, StackSource’s platform instantly identifies potential lending partners for a given deal by searching through its database of hundreds of lending contacts, automatically filtered based on deal parameters such as the loan amount, asset class, geography, and loan scenario.

Transparency is at the heart of StackSource’s platform, as property owners can compare and analyze not only their loan quotes but also any associated fees. This includes taking StackSource’s placement fee into account, where fees with other mortgage brokers are more likely to be hidden.

Prior to founding StackSource, Milazzo spent time working for Facebook and both he and Wall previously worked for Google. 

The Shoppes at Susquehanna, Harrisburg, PA
The StackSource team recently completed the NVP Labs accelerator program in Newark, NJ and is now hiring regional market leaders to spearhead their entry into primary real estate markets across the country.

Tom Wisniewski, Managing Partner at Newark Venture Partners, a StackSource investor, said, “StackSource is simply commercial real estate lending for the 21st century.  StackSource gives parties at both ends of the loan data, options, and control levers that will get commercial real estate deals done faster.


Jen Solomon 
Newark Venture Partners

The Astor Companies Completes Transformative Merrick Manor Development in Coral Gables, FL

Sasha Ezquerra

CORAL GABLES, Fla. – Pioneering Miami developer The Astor Companies is setting a new standard for luxury, sophistication and lifestyle in the “City Beautiful” with the completion of Merrick Manor

The 10-story, mixed-use building with 227 residences and nearly 20,000 square feet of retail and restaurant space represents the only new, move-in ready condominium offering in Coral Gables.

Astor received a Temporary Certificate of Occupancy (TCO) from the city, paving the way for closings and resident move-ins to begin at the 301 Altara Ave. building – just steps away from the Shops at Merrick Park. 

Merrick Manor is the largest residential development delivered in Coral Gables in nearly a decade.

For Astor Founder, President and CEO Henry Torres, a Coral Gables resident and business owner, completing Merrick Manor is a culmination of his vision to redefine luxury living in the city he loves. 

Rendering of Completed Merrick Manor, 301 Altara Avenue,
Coral Gables, FL
The building blends timeless Mediterranean-style architecture with contemporary style, with the renowned Behar Font & Partners serving as Merrick Manor’s architect and award-winning Interiors by Steven G. designing and furnishing the building’s lobby, common areas and model residences.

Jaxi Builders is Merrick Manor’s general contractor.

“This is a special moment for our company, my family, the project team and everyone who supported Merrick Manor along the way,” Torres said. “No detail was spared in conceiving this project, which addresses the pent-up demand from a wide range of buyers for modern luxury residences located within walking distance to incredible shopping, dining and art galleries. 

Henry Torres
"I can’t wait to see our first residents move in and experience this unparalleled lifestyle.”

More than 65 percent of Merrick Manor’s residences are under contract, with prices for remaining units starting from $374,990 and ranging up to $2.6 million. Remaining units range from 574 square feet to more than 3,400 square feet.

 The one-to-four-bedroom residences feature exceptional finishes, including Italian cabinetry, Bosch appliances, white quartz countertops and spacious terraces.

The Agency Development Group is overseeing residential sales at Merrick Manor, led by Managing Director Sasha Ezquerra and Residential Sales Director Esther Prat.

Merrick Manor amenities include 24-hour valet parking, 24-hour front desk concierge service, lobby lounge area, Parcel Pending lockers, a business center with four computer-ready desks and multimedia screens for presentations, a club lounge and news café lounge on the fourth floor, state-of-the-art fitness center and resort-style pool with barbecue gathering areas.

In the event of a hurricane or major storm, Merrick Manor is equipped with unique storm-related features including emergency generators to fully power the ground-floor lobby and amenities floor and fully functional Wi-Fi in those areas. 

Esther Prat

Security features include a Coral Gables Police Department substation on the ground floor, 24-hour security, strategically placed security cameras and a covered and monitored parking garage.

Merrick Manor also offers nearly 20,000 square feet of prime, Class A ground-floor retail and restaurant space marketed by the Astor Real Estate Group, led by Principal Broker Roza H. Radkiewicz.

                              Roza Radkiewicz
For commercial and retail opportunities available at Merrick Manor, please contact Radkiewicz at (305) 779-5672 or (786) 218-8322 or email

To learn more about the residences, please visit or call the Merrick Manor Sales Gallery at (305) 779-6870.

Miami law firm Rennert Vogel Mandler & Rodriguez is handling Merrick Manor residential closings on behalf of Astor.

For more information, please visit the project Sales Gallery at 4200 Laguna Street, call (305) 779-6870 or email



Todd Templin:, 954-370-8999
Eric Kalis:, 954-370-8999

For more information, please visit