Amerant Facilitates $49 Million Loan for Mixed-use Property in New York City
New York, NY – Amerant provided a $49 million first mortgage loan to finance a five-story, 109,623 square-foot, mixed-use property located in 1715 East 13th St.
Amerant acted as the administrative agent in the transaction, taking 51 percent of the transaction and syndicating the remaining 49 percent to prominent banks in New York. The loan was provided to a partnership between Infinity Real Estate and Nightingale Group. The terms of the loan were not disclosed
“We are pleased to continue to grow our premier relationships in New York City, and are proud to act as the lead bank in this transaction,” said Paulo C. Garcia, Senior Vice President, Commercial Real Estate. “Amerant is committed to growing and maintaining strong inter-bank relationships, while always meeting our client’s ever- evolving needs. We are dedicated to expanding and solidifying our footprint in the industry.”
The property features approximately 60,000 square feet of retail space, which is leased to nationally-recognized tenants, including Target on the ground and second floor and Marshalls on the cellar level. The other floors of the property are marketed for prospective office spaces.
Headquartered in Coral Gables, Florida, Amerant has 24 banking centers in its network, with 16 in South Florida, eight in Houston, Texas, and two loan production offices in New York, as well as Dallas, Texas.
About Amerant Bancorp Inc.
Amerant Bancorp Inc. (NASDAQ: AMTB and AMTBB) is a bank holding company headquartered in Coral Gables, Florida. The Company operates through its 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 40 years, is the largest community bank headquartered in Florida. The Bank operates 24 banking centers – 16 in South Florida and 8 in the Houston, Texas area – and loan production offices in Dallas, Texas and New York, New York. Please visit www.amerantbank.com or https://investor.amerantbank.com for more information.