Borrowers get best of both worlds.

M. Robert Goldman & Company, Inc. has arranged financing totaling $51.25 million in four transactions through its correspondent relationship with Nationwide Life Insurance Company of Columbus, Ohio.

The loans were originated on behalf of Nationwide's Capital Markets program where the mortgages are securitized after being closed.

Commonly known as a conduit loan, the subject financings enabled the borrowers to obtain aggressive terms associated with securitizations while utilizing the origination platform of one the oldest and best-respected life insurance companies, providing the borrower with a "best of both worlds" approach.

"Said Jonathan Goldman, executive vice president of the firm and the originator of the loans, said, "Unlike nearly all of their peers providing capital markets transactions, Nationwide is willing to lock the interest rate upon application without a separate hedge agreement in what is commonly known as a 'life company' rate lock. They also have negotiated arrangements so that all the servicing functions, remain with the correspondent."

Two of the loans were originated on behalf of Menowitz Management, one of the oldest developers in New York. The first was the $26,250,000 refinancing of 91-31 Queens Boulevard in Elmhurst, Queens, a six-story, 84,393 s/f multi-tenant office building with first floor retail and kiosks. Situated directly in front of Queens Center Mall at the intersection of Queens Boulevard and the Long Island Expressway, the office building is one of the most recognizable properties in the Borough.

Just to the west of 91-31 at 89-55 Queens Boulevard, MRG secured a $4,500,000 loan on a 7,600 s/f two-story retail building uniquely situated on a triangular entire city block between Queens Center and Queens Place Malls.

"The loans per sq. ft. for each of $311 and $592 respectively are well beyond what one would expect from a life insurance company on multi-tenant office and non-credit two story retail," said Goldman. "Nationwide was able to understand the dynamics of the locations and ultimately sold the loans with no resistance from either the rating agencies or the 'B' piece buyers."

In two additional transactions for AVR Realty, one of the largest private developers in the nation, MRG arranged a $9,000,000 loan on an 83,300s/f flex property at 800 Corporate Drive, Mahwah, N J, and a $11,500,000 loan was placed on 525 Broad Hollow Road, Melville, New York, a 108,000 s/f research & development buildingleased to a single tenant whose lease expires in 2009.