Northwind Group Closes $45 Million Condo Inventory Loan for 120-Unit Condominium Building in the Upper West Side of Manhattan at 175 West 95th Street

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Jul 13, 2022, 10:00 ET

NEW YORK, July 13, 2022 /PRNewswire/ -- Northwind Group, a Manhattan based real estate private equity firm that invests primarily in debt instruments through its discretionary closed-ended debt funds, today announces the closing of a $45 million condo inventory loan for a 120-unit condominium building located in the Upper West Side of Manhattan at 175 West 95^th Street. The Borrower is a joint venture between Meadow Partners, a vertically integrated private real estate investment firm based in New York and London, and Glacier Equities, a vertically integrated investment platform focused on acquiring residential assets across the five boroughs of New York City (NYC).

Northwind closed on the loan quickly and efficiently, providing flexible terms, which enabled the time and resilience needed to execute their business plan. Despite a volatile capital markets environment, Northwind remains committed to lending in NYC and is a long-term believer in the city, actively looking 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's debt funds have originated 35 loans totaling over $1 billion in NYC over the past 18 months.

"We are thrilled to be able to provide this loan to high-quality sponsors such as Meadow Partners and Glacier Equities in this off-market transaction sourced in great collaboration by our team. We believe in the long-term success and resiliency of the NYC residential market and continue to deploy capital to properties and borrowers that meet our underwriting criteria," says Ran Eliasaf, Founder and Managing Partner of Northwind Group.

"Northwind was able to structure a flexible loan at an attractive basis with additional future funding of project costs. We look forward to continuing to unlock the value of this asset and to a successful execution of the business plan," says Myles Horn, Managing Partner of Glacier Equities.

About Northwind Group
Northwind Group is a Manhattan real estate private equity firm that invests primarily in debt instruments through its discretionary closed-ended debt funds. For further information, go to www.northwind-group.com.

Glacier Equities
Glacier Equities is a vertically integrated investment platform focused on acquiring residential assets across the five boroughs of New York City. The principals of Glacier have been active in the residential market for decades with an extensive track record and proven execution ability. Glacier Equities' deep understanding of the New York City market and targeted investment approach have enabled its principals to produce historically outsized investment returns across multiple economic cycles.

Meadow Partners
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 funds and separate accounts on behalf of institutional clients. Since inception, Meadow Partners has invested over $1.9B of equity for its investment strategies and has acquired more than $6.8B of real estate assets in its target markets of New York City, London, Washington, D.C., and Paris. The partners of Meadow have been responsible for the acquisition and ongoing asset management of over $29B of real estate assets located in the U.S., Europe and Asia through over 285 separate transactions.