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Capital One Bank Closes $67.5MM Syndicated Loan for KRE Group, Silverman Group

April 15, 2014, 07:45 AM
Filed Under: Real Estate

Capital One Bank announced today that it successfully completed the syndication of a $67.5 million loan in senior secured construction facilities for Murray Kushner/KRE Group and The Silverman Group. The loan will be used for the construction of Madison Farms, a mixed-use development in Bethlehem Township, PA. Capital One Bank acted as sole lead arranger, sole bookrunner, and administrative agent on the transaction.

The Madison Farms project consists of 123,000 square feet of retail space and 294 residential rental units. Of the total loan amount, $43.8 million will be used for residential construction and $23.7 million will be allocated for retail space.

Kusher Real Estate Group (KRE) is a full-service real estate investment and management company with headquarters in New York and New Jersey. The company’s portfolio consists of over 100 office, warehouse, residential and retail properties.  The Silverman Group is a family owned and operated private equity and real estate development organization. Based in Short Hills, New Jersey, the Silverman portfolio consists of numerous commercial, industrial and apartment sector holdings.

“We are pleased to support the financing needs of industry leaders such as KRE and Silverman Group,” said Glenn Gallagher, Mid-Atlantic Market Manager, Capital One Bank Commercial Real Estate. “We look forward to working with them again and supporting any future financing needs they have.”

“Capital One’s hands-on approach was instrumental in finding the tailored financial solution that fit our needs," said Murray Kushner, Chairman of Kushner Real Estate Group. “Their dedicated team gave us the support we needed to maintain our growth trajectory and expand our portfolio in the Mid-Atlantic market.”

Capital One Bank’s Commercial Real Estate Group provides financing in markets including New York; New Jersey; Massachusetts; Pennsylvania; Washington, D.C.; Virginia; Maryland; Texas; and Louisiana. The group offers a comprehensive array of solutions for property owners and developers, including commercial lending, financing, underwriting, and treasury management.

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