Silverstein Capital Partners Leverages ProDeal Tech to Close Over $750 Million of Transactions
NEW YORK, NY / ACCESSWIRE / December 2, 2020 / Silverstein Capital Partners is a New York-based real estate lending joint venture focused on premium quality projects with investments of $25 million or more up and down the capital stack. A year ago, the firm made headlines with a $235.6 million mezzanine loan for a residential skyscraper development project at 9 DeKalb Avenue in Brooklyn, New York. The property is slated for completion in 2022 and will be the tallest tower in Brooklyn.
Michael May joined Silverstein Capital Partners in September 2018 to lead their new debt platform with a focus on big, complicated deals. The team has worked with ProDeal to coordinate and accelerate the deal closing process. Since March 2019, Silverstein has used ProDeal to close on more than $750mm in financings across New York City.
ProDeal’s digital deal closing checklist makes it simple, easy and fast for lenders, borrowers, and their respective legal and diligence teams to securely share closing documents and update closing checklists in real time. ProDeal accurately reports deal status as well as keeps track of final closing documents.
“ProDeal has become our standard deal-closing platform,” said Michael May, President of Silverstein Capital Partners. “It is user friendly which allows my team and counsel to better coordinate the deal closing process with our counterparties.”
“At ProDeal, we are focused on addressing the challenges facing today’s real estate investors and the need to close deals simpler and faster,” said Patrick Janson, COO at ProDeal. “Silverstein Capital Partners wanted to ensure it had a technology platform that could securely streamline their loan closing process and we are grateful for their partnership.”
ProDeal’s transaction management solution offers an intuitive interface and enables businesses to close deals in real-time, replacing email chains and unorganized data rooms. Clients are supported by an experienced customer success team including 24/7 live support and training to support their users and counterparties throughout the deal closing process.
“Our platform continues to invest in high profile real estate developments in major markets nationwide,” said Michael May. “We are fortunate to have ProDeal as a partner.”
About Silverstein Capital Partners
Launched in 2018, Silverstein Capital Partners is a real estate lending joint venture providing financing for all major product types in growing urban markets throughout North America. Leveraging over 50 years of real estate experience, Silverstein focuses on office, industrial, residential, and retail properties.
ProDeal’s technology has been used to transact over $50 billion in deals across 1,200 organizations. By utilizing ProDeal’s transaction management system, leading real estate firms such as Silverstein Capital Partners can scale their operations in a digital-first work environment.