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$20m financing for Brooklyn supermarket.


The New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 office of Holliday Fenoglio Fowler, L.P. has arranged $20.2 million in financing for a 54,000 s/f free-standing supermarket in Brooklyn, New York.

HFF HFF Hochschule für Fernsehen und Film München (Germany)
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 managing director Robert Delitsky worked on behalf of Feldco Development Corp. to secure a $19 million, ten-year, fixed-rate securitized securitized

Of, related to, or being debt securities that are secured with assets. For example, mortgage purchase bonds are secured by mortgages that have been purchased with the bond issue's proceeds.
 loan through Barclays Capital, a conduit lender. In addition, a $1.2 million mezzanine loan was placed through RAIT RAIT Redundant Array of Inexpensive Tapes
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 Investment Trust. The property, which was built in 1992 and remodeled in 2003, is fully leased to a Super Stop & Shop supermarket. Located at 1710 Avenue Y and East 18th Street in Brooklyn, this Stop & Shop serves the local area and generates strong sales. Parking is provided both on grade and on the roof of the store.

Barry Feldman, the president of Feldco and developer of the property, has developed shopping centers totaling in excess of five million s/f.
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Article Details
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Title Annotation:FINANCE
Publication:Real Estate Weekly
Geographic Code:1USA
Date:Aug 31, 2005
Words:148
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