$65 Million Financing Secured by GPARENCY for Virginia Office Portfolio Acquisition for Only $11,000 Borrower Fee

Ira Zlotowitz, GPARENCY

National Prop-tech platform completes major financing for a substantially below market fee

NEW YORK, NY, UNITED STATES , January 17, 2023 /EINPresswire.com/ — GPARENCY — a national commercial real estate prop-tech platform providing ground-breaking tools for finding and financing transactions – has announced a $65 million financing for an 11 property office building portfolio located in Glen Allen and Richmond, Virginia. The portfolio of office properties consists of a total square footage of 723, 103 square feet. This is the largest financing that GPARENCY has arranged to date.

“This is an extraordinary financing in multiple ways,” said Ira Zlotowitz, Founder and CEO of GPARENCY. “Our GPARENCY team closed this financing under our market breaking maximum borrower fee of only $11,000. The borrower in this transaction was not only afforded a fast and effective closing on this multifaceted transaction, but he also benefited from the low GPARENCY fee structure totally unique and unheard of in the commercial real estate market,” added Mr. Zlotowitz.

The 11 buildings currently on site were constructed between 1984 and 2007. They are in the Greater Richmond region and within the Innsbrook Mixed Use Infill Development Plan. The area is highly desirable from economic, location and potential growth perspectives. With access to retail, nearby national flag hospitality offerings, excellent transportation and school facilities, the area surrounding this portfolio is prime for future residential development. That potential has been noted in extensive planning and development studies commissioned and adopted for the region.

The GPARENCY professional brokerage team of Michael Wyne and Tim Wylie arranged the $65 million financing for the borrower, Richard Hewitt.

GPARENCY features more than 35,000 properties on its Digital Marketplace directory, sourced by an in-house team dedicated to finding the latest price changes, acquisition opportunities, and market updates — along with contributions from over 1,000 listing brokerages — totaling more than $50 billion worth of deals.

More information about GPARENCY and its programs may be found at gparency.com

About GPARENCY
GPARENCY is a wholly unique commercial real estate prop-tech platform providing competitive tools for finding and financing transactions, nationwide. Its one-of-a-kind business model offers free access to a directory of national listings through an interactive digital map, aka Digital Marketplace, which is constantly updated for the most current on- and off-market availabilities. Other features include more than 400,000 sales and finance comps, relevant public data, updates on the best lender rates and terms, and the option of having a member of the GPARENCY Banking team shop or close a deal for a maximum of $11,000, debt or equity.

Alan J. Segan and Linda Alexander
Alexander + Segan Communications, LLC
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