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Sources of Financing
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Sources of Financing Cohen Financial (312-346-5680) secured $134.5 million in debt refinancing for a portfolio of eight properties owned by Rubloff Development Group. The properties include seven malls and one office building, totaling 2.5 million sq.ft. and located nationwide. Cohen Financial secured $134.5 million non-recourse, fixed rate loans priced over the 10-year U.S. Treasury. Four of the Rubloff properties are enclosed malls where Cohen Financial cross-collateralized $57.5 million in debt refinancing. The other four loans were financed independently and were not cross-collateralized. Rubloff developed three of the retail properties and had recently acquired the other five.
New Freedom Mortgage (562-276-5300) is looking to fund opportunities nationwide as well as internationally. The company will close in 10 to 30 days and offers rapid funding for shopping centers, malls, mixed-use properties, hotels/motels, medical, construction, industrial, acquisition and development loans.
Mercury Capital Corp. (800-747-7736) offers commercial bridge loans with commitments issued within 48 hours. Ten-day closings are available and all property types are considered.
Meridian Capital Group (212-612-0165) arranged the financing for 23,000 sq.ft. of retail space anchored by Abercrombie & Fitch’s flagship store alongside 100,000 sq.ft. of Class A office space on Fifth Avenue in New York, NY. The company negotiated on behalf of Wharton Realty Corp. to secure a rate of 5.777% over a 10-year interest only term for the first mortgage of $165 million in conjunction with a $35 million mezzanine loan from SL Green. The site is located on the corner of 56th Street and Fifth Avenue near Prada, Louis Vuitton and Bergdorf Goodman. Working with a variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multi-family, co-op, office, retail, hotel, health care, self-storage, industrial and construction properties.
Corporate Solutions of NY (315-697-2860) offers 90% to 100% financing for land, soft costs and new construction. The company also offers financing for restaurants, hotels, transmission shops, drug stores, offices, retail, manufacturing, apartments, nursing homes and child care facilities. The company can close in 30 to 45 days and prefers build-to-suit properties and multiple units. Debt and equity funding alternatives are also available. The company requires experienced management, profitable franchises and an ownership with solid net worth and good financials.
Commercial Capital (847-321-0160) offers funding of $350,000 to $10 million in fixed-rate loan programs for retail, commercial, industrial, medical-use, construction, hospitality use and land use properties. The company uses private funding sources and conventional lenders. CFA Capital Partners, LLC (914-967-5780) offers bridge and mezzanine loans for retail, industrial, warehouse, multi-family, mixed-use, hotel/motel and self storage facilities. Loan sizes range from $1 million to $50 million with terms up to 18 months. The company can close in five to 20 days. The company also offers transitional financing for office, retail, industrial, warehouse, multi-family and hotels. Loan sizes range from $5 million to $200 million with terms of one to five years. In addition, CFA Capital Partners, LLC offers permanent commercial mortgage financing for office, warehouse, multi-family, retail and mixed-use properties. Loan sizes range from $5 million to $200 million.
Johnson Capital (949-660-1999) arranged a $6.7 million acquisition loan for the 96,153 sq.ft. Summit Square Shopping Center in Westminster, CO. The fixed-rate, 10-year term/30-year amortization loan was non-recourse and competitively priced over the 10-year Treasury. The loan included three years of interest only with minimal reserves.
Ackman-Ziff Real Estate Group, LLC (212-697-3333) arranged the following transactions: $53 million in debt financing for a 95,086 sq.ft. retail space in NY and $24.5 million in debt financing for a 114,587 sq.ft. shopping center in TX.
leftover sources of finance 12/8/06
Navigator Group (661-889-8711) offers financing for commercial real estate, including hotels, resorts, shopping centers, multi-family developments, land and property acquisition, office complexes, racetracks, golf courses, entertainment complexes, retail, trailer parks, parking facilities, car dealerships, apartment buildings, churches and synagogues, truck stops, self-storage and casinos. The company also offers construction loans.
Century Financial Funding, LLC (954-267-9899) offers an array of mortgage services for acquisitions or for refinancing with rates starting at 6.5%. The company offers long fixed rates and financing for office buildings, warehouses, shopping centers, mini-storage, multi-family residences, office condominiums and retail and mixed use developments. Rehabilitation and construction financing is available as well as mezzanine or bridge financing. The company will pre-qualify clients within 48 hours.
Capmark Finance, Inc. (215-328-3842) provided $2.45 million in permanent, fixed-rate financing for the Lakeshore Village Shopping Center in Birmingham, AL on Frankfurt Circle. The 80% LTV, non-recourse financing featured a 10-year term and 30-year amortization. The 2.17-acre strip center consists of two one-story buildings and is 95% leased. Tenants include Cancun Mexican Restaurant, BAMA Cellular, CitiFinancial Corp., Elite Fitness and Subway. |