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133-17 Sanford Ave.NEW YORK CITY—Treetop Development has secured $118 million in acquisition financing for the purchase of an eight-building, 608-unit multifamily portfolio located in the Flushing and Elmhurst areas of Queens.

The three-year financing package was provided by ACORE Capital and features a LIBOR-based floating-rate, full-term interest-only payments and two one-year extension options. This transaction was negotiated by Meridian Capital Group senior managing director Ronnie Levine and VPs Isaac Lifshitz and Aggelos Sklavenitis, who are all based here.

The properties are located at 132-40 Sanford Ave., 132-25 Maple Ave., 132-45 Maple Ave., 132-57 Sanford Ave., 132-61 Sanford Ave., 132-48 41st Rd. and 133-17 Sanford Ave. in Flushing as well as 41-40 Denman St. in Elmhurst.

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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