NEW YORK, July 13, 2022 /PRNewswire/ — Northwind Group, a manhattan real estate based private equity firm that invests primarily in debt securities through its discretionary closed-end debt funds, today announces the closing of a $45 million condo inventory loan for a 120 unit condominium building located on the Upper West Side of manhattan at 175 West 95e Street. The Borrower is a joint venture between Meadow Partners, a vertically integrated private real estate investment firm based in New York and Londonand Glacier Equities, a vertically integrated investment platform focused on acquiring residential assets in the five boroughs of New York City (New York).
Northwind closed the loan quickly and efficiently, offering flexible terms, which allowed the time and resilience to execute its business plan. Despite a volatile capital market environment, Northwind remains committed to lending in New York and believes in the long term in the city, actively seeking to lend to quality borrowers in strong residential markets. Northwind is equipped to provide flexible financing solutions from its three discretionary debt funds under management. Northwind Debt Funds issued 35 loans totaling more than $1 billion in New York for the past 18 months.
“We are delighted to be able to provide this loan to high quality sponsors such as Meadow Partners and Glacier Equities in this off-market transaction executed with great collaboration by our team. We believe in the long-term success and resilience of the NYC residential market and continue to deploy capital to properties and borrowers that meet our underwriting criteria,” said Ran Eliasaf, Founder and Managing Partner of Northwind Group.
“Northwind was able to structure a flexible loan on an attractive basis with additional future financing of project costs. We look forward to continuing to unlock the value of this asset and successful execution of the business plan,” said Myles Hornmanaging partner of Glacier Equities.
About Northwind Group
The Northwind Group is a manhattan real estate private equity firm that invests primarily in debt securities through its discretionary closed-end debt funds. For more information, visit www.northwind-group.com.
Actions of glaciers
Glacier Equities is a vertically integrated investment platform focused on acquiring residential assets in the five boroughs of New York City. Glacier executives have been active in the residential market for decades with a long track record and proven ability to execute. Glacier Equities’ deep understanding of the New York City the market approach and focused investment approach has enabled its principals to produce historically outsized investment returns over multiple economic cycles.
Meadow Partners is a vertically integrated private real estate investment firm based in New York and London. Meadow manages a series of closed-end real estate investment trusts and segregated accounts on behalf of institutional clients. Since its inception, Meadow Partners has invested more than $1.9 billion of equity for its investment strategies and has acquired over $6.8 billion of real estate assets in its target markets of New York City, London, washington d.c.and Paris. Meadow Partners have been responsible for the acquisition and ongoing asset management of over $29 billion real estate assets located in the United States, Europe and Asia through more than 285 separate transactions.
SOURCE Northwind Group