Sources of Financing
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Sources of Financing

Penstar Advisors provided $3 million in full-recourse financing for an unanchored shopping center in OH. The 10-year term has a 30-year amortization. The company is also engaged in a joint venture to develop shopping centers nationwide and Penstar’s client will provide 100% of cost funds for substantially preleased centers priced at $2 million to $7 million. The fund will also finance expanding restaurant and retail chains.

For more information regarding the OH shopping center, contact Gerald Price, Penstar Advisors; 818-882-9629; Email: price@penstaradvisors.com. For more information regarding the joint venture fund, contact Steven Hamermesh; 818-883-9609; Email: hamer@penstaradvisors.com. 

Hypo Real Estate Capital Corp. closed a $105 million loan for the refinance of Harlem USA, a 285,000 sq.ft. retail/entertainment center located in Harlem, NY. Gotham Organization, Inc. and Grid Properties, Inc. sponsored the deal. Tenants of the center include Old Navy, Modells, New York Sports Club, Chase Bank, Commerce Bank and a nine-screen AMC/Magic Johnson Theatre. Hypo Real Estate Capital is a subsidiary of Hypo Real Estate Bank International and has closed more than $22 billion in loans during the past five years.

For more information, contact Evan Smith, Hypo Real Estate Capital Corp.; 212-850-5606, Fax 212-850-5790; Email:
evan.smith@fd.com.

FDP Capital, LLC offers financing for various projects, including retail, regional shopping centers, mixed-use projects, construction, hotels and apartment complexes. The company can provide debt and equity financing, hard money loans or bridge
loans. In addition, the company manages a joint venture partnership with a $500
million investment fund that can finance deals from $100,000.

For more information, contact FDP Capital, LLC, 67 Wall Street, Suite 2211, New York, NY 10005; 212-709-8228; Web site:
www.fdpcapital.com.

Wilkinson Peabody & Co. provides financing for construction projects, as well as bridge and mezzanine loans at rates that vary from LIBOR + 200 bps to LIBOR + 450 bps. Recently, the company completed loans for $100 million and $150 million at LIBOR + 300 bps and LIBOR + 200 bps.

For more information, contact John O’Brien, Wilkinson Peabody & Co.; 416-760-4828, Fax 888-319-8964; Web site: www.wpfinance.com.