Services
As both an adviser and broker, we procure capital for investment properties located in the United States and provide post-closing financial reporting services for our clients’ assets under management.
Capital Placement
Our primary business is the arrangement and negotiation of healthy debt via the origination of commercial mortgages by creating, facilitating, and strengthening relationships with:
- Local, regional, and national banks
- The Agencies (Fannie/Freddie/FHA) and their originators
- CMBS (securitizing) institutions
- Credit unions
- Insurance companies and pension funds
- Private lenders
We also arrange equity for owners and developers who, in order to complete a project’s capital stack and to leverage their own cash-on-cash returns, seek funding from institutional investors interested in partnering on either a passive or more active basis.
Asset Management
Post-closing, many lenders require annual, semi-annual, or even monthly financial reporting that allows them to track their collateral’s performance. Requisite documentation, for example, often includes:
- Rent Rolls
- Year-to-date (Trailing) Operating Statements
- Balance Sheets
- Personal Financial Statements
- Business and Personal Tax Returns
- Service Agreements
We offer this tracking and processing service on an ongoing basis to existing clients. Borrowers find it particularly helpful from an administrative point of view and as good preparation for future financing events.
About Us
Americana Financing is a consulting and brokerage firm with two main real estate service lines: commercial mortgage placement and asset management. We have negotiated and customized debt packages for a wide variety of investment property types located in the NYC metro area (Manhattan, Brooklyn, & Queens and Nassau, Westchester, & Fairfield counties), Los Angeles, South Florida, and North Carolina and are equipped to arrange capital for investment properties across the country.
Whether our client is a multi-generational family office seeking expansion of their portfolio by acquiring a new apartment building, a local restauranteur looking to buy the retail property that houses her establishment, or a more institutional client in need of financing to purchase multiple triple-net assets, we take pride in the experience, expertise, and patience that we bring to all of our relationships and every transaction.
Our senior broker, Douglas Chitel, has 18+ years of commercial real estate experience, including tenures with Marcus & Millichap, Winter & Company, and Nancy Packes. He holds a B.A. from Tufts University and an M.S. from New York University.
Douglas Chitel
Principal
Testimonials
Loan Options
Acquisition or
Refinancing
Acquisitions often elicit higher leverage than refinancings, which are generally classified as a.) rate & term focused on improving the existing interest rate and resetting the loan term with no net cash gain and b.) cash-out used to pull equity out of a property via a “take-home check” to the borrower at closing.
Permanent
A longer-term mortgage with a term of at least 5 years before maturity or rate renewal. It generally provides a fixed interest rate with amortization during the term, but floating rate and interest only options for either a partial or the entire term are available.
Bridge
A shorter-term mortgage with a term of 6-36 months used by borrowers to close on an acquisition quickly (30 days or less), to finance property renovations, and to keep an asset properly financed while the property stabilizes towards 100% physical and economic occupancy.
Mezzanine
A high-leverage mortgage product used to limit cash injection and, subsequently, positively leverage debt (up to 85-90%+ of as-stabilized appraised value) and maximize cash-on-cash returns. It is generally a subordinate/junior loan.
Construction / Rehabilitation:
Debt financing utilized for ground-up construction and major property rehabilitations. Generally utilized in the form of a draw over time but sometimes released in one lump sum. Interest only payments at first and can often convert into a permanent mortgage with amortization.
Equity
“Preferred” equity may be considered debt, as it requires a fixed rate of return and is still senior to investors’ and sponsors’ positions. “Common/JV” equity sources from cash investors who accept a comparable risk level as the sponsor and who act as an active general partner (GP) or more passive limited partner (LP).
Property Types
Multifamily
- Apartment buildings and complexes with 5+ units
- Student and Senior Housing
- Affordable Housing
Mixed-use
- Generally multifamily use plus retail or office use
- May include community facility space for greater floor area ratio (FAR)
- Popular among urban planners seeking to promote 24/7 lifestyles
Retail and SBA
- Shopping malls, strip centers, and big boxes
- Double- or triple-net (NNN) assets where tenant covers most of the expenses
- Owner-occupied establishments qualifying for SBA 504 or 7(a) products
Industrial/Storage
- Warehouse and self-storage buildings
- Dry and wet manufacturing facilities
- Logistics and distribution centers along all levels of the supply chain
Hospitality
- Full or limited-service hotels
- Amusement and theme parks
- Spas and resorts
Office
- Professional space for law firms, tech companies, investment banks, etc.
- Medical space for doctors, dentists, and other health care professionals
- Commercial Condominiums
Single-Family Portfolios
- Pools of 5+ non owner-occupied existing or proposed homes known as:
- Single-Family Rentals (SFRs)
- Build-to-Rent (BTRs)
Land, Special Purpose, and Other
- Vacant Land
- Golf courses and marinas
- Summer camps and country clubs
Sample Closings
Murray Hill, NYC - Multifamily
Project Type:
Loan Type:
Loan Amount:
Story:
Project Type:
Multifamily
Loan Type:
Permanent Refinancing
Loan Amount:
$10,600,000 (Blanketed with Long Island asset below)
Story:
Refinanced with some cash-out via 5-year Fixed interest-only dollars to take out the high-interest rate acquisition loan that the buyer used to purchase these 24 apartments over three buildings. Cross-collateralized with the sponsor’s existing suburban property below.
Project Type:
Mixed-use (Office/Retail)
Loan Type:
Permanent Refinancing
Loan Amount:
$10,750,000
Story:
Fully occupied retail property in prime L.A. submarket; loan blanketed with another non-adjacent property in nearby neighborhood.
Long Island, NY - Mixed-Use
Project Type:
Loan Type:
Loan Amount:
Story:
Project Type:
Mixed-use (Multifamily/Retail)
Loan Type:
Permanent Refinancing
Loan Amount:
$10,600,000 (Blanketed with Manhattan property above)
Story:
Refinancing of this asset allowed the sponsor to pay off an expensive acquisition bridge loan on the above multifamily properties. The new blanket mortgage provided a 5-year fixed, interest-only instrument that satisfied a reserve account requirement (earmarked for future distribution), provided additional cash-out for portfolio expansion, and maximized future cash flow via the power of zero amortization.
Project Type:
Mixed-use (Office/Retail)
Loan Type:
Permanent Refinancing
Loan Amount:
$10,750,000
Story:
Fully occupied retail property in prime L.A. submarket; loan blanketed with another non-adjacent property in nearby neighborhood.
Winston-Salem, NC - Retail
Project Type:
Loan Type:
Loan Amount:
Story:
Retail
Bridge-to-Perm Acquisition
$4,500,000
Buyer saw upside to owning this asset that would also house his retail business in a growing Southeast submarket; Significant vacancy at closing, so acquisition lender held back reserves for forthcoming tenant improvements and leasing commissions, which released later as needed and upon provided invoices or receipts.
Project Type:
Retail
Loan Type:
Bridge-to-Perm Acquisition
Loan Amount:
$4,500,000
Story:
Buyer saw upside to owning asset that would also house his retail business in a growing Southeast submarket; Significant vacancy at closing, and acquisition lender held back reserves for forthcoming tenant improvements and leasing commissions, which released later as needed and upon provided invoices or receipts.
Santa Monica, CA - Mixed-use
Project Type:
Loan Type:
Loan Amount:
Story:
Mixed-use (Office/Retail)
Permanent Refinancing
$10,750,000
Fully occupied retail property in prime L.A. submarket; loan blanketed with another non-adjacent property in nearby neighborhood.
Project Type:
Mixed-use (Office/Retail)
Loan Type:
Permanent Refinancing
Loan Amount:
$10,750,000
Story:
Fully occupied retail property in prime L.A. submarket; loan blanketed with another non-adjacent property in nearby neighborhood.
Delray Beach, FL - Investment Condominium
Project Type:
Loan Type:
Loan Amount:
Story:
Investment Condominium
Acquisition
$627,750
Quick purchase of a residential condominium for investment purposes in prime South Florida submarket directly along the Intracoastal Waterway.
Project Type:
Investment Condominium
Loan Type:
Acquisition
Loan Amount:
$627,750
Story:
Quick purchase of a residential condominium for investment purposes in prime South Florida submarket directly along the Intracoastal Waterway.
East Williamsburg, NYC - Mixed-use
Project Type:
Loan Type:
Loan Amount:
Story:
Mixed-use (Multifamily/Retail)
Permanent Refinancing/Bridge/Permanent
$5,400,000
Financed multiple times by Americana: first while waiting for occupancy in the asset’s ground floor to stabilize and then again when the property was fully occupied and cash-flowing in a booming Brooklyn submarket.
Project Type:
Mixed-use (Multifamily/Retail)
Loan Type:
Acquisition/Bridge/Permanent
Loan Amount:
$5,400,000
Story:
Financed multiple times by Americana – first waiting for occupancy in the asset’s ground floor to stabilize and then again when the property was fully occupied and cash-flowing in a booming Brooklyn submarket.
East Harlem, NYC - Mixed-use
Project Type:
Loan Type:
Loan Amount:
Story:
Mixed-use (Multifamily/Retail)
Refinancing
$1,350,000
Partially owner-occupied asset refinanced after a gut renovation in order to extract cash/equity out of the property and to lower the interest rate.
Project Type:
Mixed-use (Multifamily/Retail)
Loan Type:
Refinancing
Loan Amount:
$1,350,000
Story:
Partially owner-occupied asset refinanced after a gut renovation in order to extract cash/equity out of the property and to lower the interest rate.
Midtown South, NYC - Retail Condominiums
Project Type:
Loan Type:
Loan + Sales Amount:
Story:
Commercial/Retail Condos
Acquisition
$10,750,000
We served as this non-profit buyer’s sales and financing agent by locating the asset, negotiating the purchase terms, and procuring the commercial mortgage that allowed the congregation to acquire two adjacent retail condominiums in this Cass Gilbert property.
Project Type:
Commercial/Retail Condos
Loan Type:
Acquisition
Loan + Sales Amount:
$10,750,000
Story:
We served as this non-profit buyer’s sales and financing agent by locating the asset, negotiating the purchase terms, and procuring the commercial mortgage that allowed the congregation to acquire two adjacent retail condominiums in this Cass Gilbert property.
North Williamsburg NYC - Retail
Project Type:
Loan Type:
Loan Amount:
Story:
Triple-Net Retail
SBA Refinancing
$3,485,000
3,500 square foot single-tenant restaurant operator took advantage of high leverage (85-90% LTV) financing that SBA 7(a) and 504 loans provide.
Project Type:
Triple-Net Retail
Loan Type:
SBA Refinancing
Loan Amount:
$3,485,000
Story:
3,500 square foot single-tenant restaurant operator took advantage of high leverage (85-90% LTV) financing that SBA 7(a) and 504 loans provide.
Venice, CA - Mixed-use
Project Type:
Loan Type:
Loan Amount:
Story:
Mixed-use (Single-Family/Office)
Acquisition
$10,750,000
Buyer purchased this celebrity-owned home in an oceanfront L.A. neighborhood and then maintained residence in the asset for a period of time and leased out the large retail space to a well-known tech firm. Financing involved using the cross-collateralizing strength and stability another nearby retail asset.
Project Type:
Mixed-use (Single-Family/Office)
Loan Type:
Acquisition
Loan Amount:
$10,750,000
Story:
Buyer purchased this celebrity-owned home in an oceanfront L.A. neighborhood and then maintained residence in the asset for a period of time and leased out the large retail space to a well-known tech firm. Financing involved using the cross-collateralizing strength and stability another nearby retail asset.
Upper West Side, NYC - Multifamily
Project Type:
Loan Type:
Loan Amount:
Story:
Mixed-use (Multifamily/Retail)
Refinancing
$14,200,000
We serviced this 13,000 SF property along a prime Upper West Side thoroughfare by arranging two permanent loans over the course of three years. Both mortgages took advantage of a decreasing interest rate environment, provided significant cash-out, and included a blanket with multiple other properties.
Project Type:
Mixed-use (Multifamily/Retail)
Loan Type:
Refinancing
Loan Amount:
$14,200,000
Story:
We serviced this 13,000 SF property along a prime Upper West Side thoroughfare by arranging two permanent loans over the course of three years. Both mortgages took advantage of a decreasing interest rate environment, provided significant cash-out, and included a blanket with multiple other properties.
Stamford, CT - Multifamily
Project Type:
Loan Type:
Loan Amount:
Story:
Multifamily
Acquisition
$2,000,000
Borrowers bought this property using an Agency-backed mortgage in order to expand their portfolio with this mostly occupied building in the most reliable asset class.
Project Type:
Multifamily
Loan Type:
Acquisition
Loan Amount:
$2,000,000
Story:
Borrowers bought this property, using an Agency-backed mortgage, to expand their portfolio with this mostly occupied building of the most reliable asset class.
Upper West Side, NYC - Multifamily
Project Type:
Loan Type:
Loan Amount:
Story:
Multifamily
Refinancing
$14,200,000
Prime Upper West Side building of apartments only, situated mid-block just feet from Central Park; refinanced twice and served as ultra-stable collateral in a blanket mortgage covering multiple Manhattan assets.
Project Type:
Multifamily
Loan Type:
Refinancing
Loan Amount:
$14,200,000
Story:
Prime Upper West Side building of only apartments, situated mid-block just feet from Central Park, refinanced twice and served as ultra-stable collateral in a blanket mortgage covering multiple Manhattan assets.
Roslyn, Long Island, NY - Mixed-use
Project Type:
Loan Type:
Loan Amount:
Story:
Mixed-use (Multifamily/Office)
Bridge-to-Perm Refinancing
$4,200,000
Bridge loan took out more expensive hard money acquisition loan so that the borrower could lower their interest rate significantly and buy more time (less expensively) to stabilize the property with physical occupancy by a new ground floor retail tenant.
Project Type:
Mixed-use (Multifamily/Office)
Loan Type:
Bridge-to-Perm Refinancing
Loan Amount:
$4,200,000
Story:
Bridge loan took out more expensive hard money acquisition loan so that the borrower could lower his interest rate significantly and buy more time (less expensively) to stabilize the property with physical occupancy by a new ground floor retail tenant.
Park Slope, NYC - Condo Conversion
Project Type:
Loan Type:
Loan Amount:
Story:
Condominium Conversion
New Construction/Rehabilitation
$1,700,000
Owners used the loan proceeds to complete a major gut renovation of this prime-Park Slope multifamily brownstone, including the addition of an extra floor and the conversion of multiple rental units into two luxury residential condominiums.
Project Type:
Condominium Conversion
Loan Type:
New Construction/Rehabilitation
Loan Amount:
$1,700,000
Story:
Owners used the loan proceeds to complete a major gut renovation of this prime-Park Slope multifamily brownstone, including the addition of an extra floor, to convert multiple rental units into two luxury residential condominiums.
Upper West Side, NYC - Multifamily
Project Type:
Loan Type:
Loan Amount:
Story:
Multifamily
Refinancing
$14,200,000
Sponsor refinanced this prime-located apartment building near Lincoln Center as part of a blanket mortgage for two major cash-out refinancing events just three years apart.
Project Type:
Multifamily
Loan Type:
Refinancing
Loan Amount:
$14,200,000
Story:
Sponsor refinanced this prime-located apartment building near Lincoln Center as part of a blanket mortgage for two major cash-out refinancings just three years apart.
