Amerant Provides $47 Million Acquisition Loan for Mixed-use Building in Manhattan
New York, N.Y. – Amerant has provided a $47 million loan to finance the acquisition of a 15-story mixed-use building located in the heart of Manhattan’s upper east side, on the corner of East 67th St. and Madison Avenue, one block from Central Park.
The loan was provided to a partnership between Ashkenazy Acquisition Corporation and Black Spruce Management. Terms of the loan were not disclosed.
The property features approximately 100 feet of frontage on Madison Avenue, fully leased to high-end boutique tenants, while the residential portion contains 53 residences offering a mix of one or two bedroom options.
“We are extremely pleased to provide this loan to such a prominent partnership within one of the world’s most compelling real estate markets,” said Avi Lieberman, Vice President, Commercial Real Estate for Amerant. “This deal highlights our strengths as a financial institution and demonstrates our commitment to continue providing creative and timely financing solutions to our long term established relationships.”
Amerant, the largest community bank headquartered in Florida, offers 23 banking centers in its network, with 15 in South Florida, eight in Houston, Texas, and loan production offices in Dallas, Texas and New York, New York.
About Amerant Bancorp Inc. and Amerant Bank, N.A.
Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida. The Company operates through its principal subsidiaries, Amerant Bank, N.A. (the “Bank”), Amerant Investments, Inc. and Amerant Trust, N.A. The Company provides individuals and businesses in the U.S., as well as select international clients, with deposit, credit and wealth management services. The Bank, which has operated for almost 40 years, is the largest community bank. For more information, please visit www.amerantbank.com or investor.amerantbank.com.
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