2515 Olinville Ave.

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NEW YORK CITY-Finkelstein Timberger East RealEstate, a real estate ownerand management company that manages residential apartmentbuildings, has secured a$63.8 million loan from Morgan Stanely to refinance aneight-property multifamily portfolio in the Bronx.Black Bear Capital Partners, a realestate financial advisory firm, arranged the loan on behalf ofFinkelstein. 

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The loan has a fixed interestrate of 4 percent and ten years of full-term, interest-onlypayments. Comprised of 429 units, the eight multi-family propertiesare located at 271 E 197th St.,686 Rosewood Ave., 2505 Olinville Ave., 3215 Holland Ave., 1475Sheridan Ave., 2305 University Ave., 2315 Walton Ave. and 2515Olinville Ave. 

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Previously, Black Bear arrangedan estimated $300 million on behalf of Finkelstein for itsproperties throughout the Bronx in the form of refinancingpackages. Finkelstein islocated throughout various parts of Bronx County and has more than3,500 units in its portfolio.

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"Black Bear and Morgan Stanleyworked diligently to navigate capital markets and close thiscomplex refinancing package, which featured an earn-out facilityand ten years of interest only payments," Bryan Manz of Black Bear said in a preparedstatement. "We look forwardto continued future transactions with both parties."

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Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.