$112m financing closed.Fremont Investment & Loan, a subsidiary of Fremont General Corporation and Corus Bank, N.A., have closed on a $112 million loan to provide construction financing for development of Douglas Wilson Douglas Wilson or Doug Wilson may refer to:
Rising 380 feet, The Mark will be a 244-unit mixed-use residential project in the East Village neighborhood of Downtown San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . The $150 million development will be the tallest in East Village when it is complete in 2007, and is destined des·tine tr.v. des·tined, des·tin·ing, des·tines 1. To determine beforehand; preordain: a foolish scheme destined to fail; a film destined to become a classic. 2. to become the ultimate address. The Mark will offer spectacular bay, city, and ballpark views from its central location just two blocks north of Petco Park. "We're excited to break ground and introduce East Village's future ultimate living address to the San Diego community," said Wilson, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the development company. Said Sarah R. Branigan, Vice President & Regional Manager for Fremont, "The Mark will be an impressive addition to the San Diego skyline." "Corus is pleased to team with Fremont to originate the first mortgage for this project and to begin a relationship with an experienced developer like Doug Wilson," added Seth J. Hewitt, Corus Bank Commercial Loan Officer. Fremont Investment & Loan and Corus Bank acted as co-lenders on this large transaction, while Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. Holdings Inc. provided the mezzanine loan A mezzanine loan is a relatively large loan, typically unsecured (ie., not backed by a pledging of assets) or with a deeply subordinated security structure (e.g., third lien on the property but non-recourse vis-a-vis the borrower). . The transaction was completed without a pre-sale requirement. |
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