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Sources Of Financing
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Sources Of Financing Ackman-Ziff Real Estate Group, LLC (212-994-8717) arranged a $14.75 million first mortgage for International Plaza, a 34,938 sq.ft. center, as well as a $6 million first mortgage for Royal Dane Mall, a 19,448 sq.ft. center. Both properties are located in the U.S. Virgin Islands. International Plaza is the largest shopping center in the St. Thomas capital of Charlotte Amalie. The center is located in the heart of the downtown waterfront-shopping district. The tenants include Wendy’s, Harley Davidson Restaurant and V.I. Brewing. Royal Dane Mall is located in downtown Charlotte Amalie.
Meridian Capital Group, LLC (212-972-3600) offers construction, acquisition or refinancing loans from $500,000 up to $500 million.
United Capital Group, LLC (248-682-6650) is seeking credit tenant lease financing opportunities on single tenant properties or ground leases, leased to investment grade tenants nationwide from $3 million and up. The loans are non-recourse except for standard carve-outs. Interest rates are fixed for the life of the loan and are determined on the basis of the tenant’s credit strength. Terms of 20, 25 and 30 years can be achieved. Term and full amortization will run coterminous with the primary lease term. Tenants must be investment grade with a minimum rating of BBB- or Baa3, as rated by S&P or Moody’s. |