X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Locally based HSBC Bank USA NA provided $99 million of fixed-rate Fannie Mae loans to El-Ad National Properties LLC, an affiliate of El-Ad US Holdings. The financing was related to the purchase of seven apartment properties or 1,666 units.

The properties are located in Texas, Georgia, and Florida, and are part of a larger portfolio acquisition that El-Ad completed in 2007. Those close to the deal tell GlobeSt.com that they are not at liberty to divulge the seller’s identity at this time.

The source further explains that in terms of total square footage the seven properties total just more than 1.6 million sf. “HSBC’s established expertise in commercial real estate, blended with the success of the Fannie Mae and Freddie Mac programs, helps ensure top customer service and one-stop-shopping for our growing client base,” notes Glenn Grimaldi, HSBC’s EVP of Commercial Real Estate, in a prepared statement.

El-Ad National Properties LLC is a subsidiary of the El-Ad Group Ltd, a major international presence in the real estate and hotel industry. The El-Ad Group has significant operations in Israel, Europe, Canada, and the US.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.