$26m Commerce loan.Commerce Bank recently provided a permanent loan for $26,000,000 to DPA DPA - Data Protection Act Wallace Avenue I, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and DPA Wallace Avenue II, LLC for the purchase of two buildings located at 2131 and 2132 Wallace Avenue in the Bronx. Situated at the corner of Wallace and Lydig Avenues, the six-story buildings boast 344 combined residential units, along with 24,575 square feet of ground floor retail space. The properties are presently 98 percent occupied with 315 rent stabilized units and 22 rent controlled apartments, and possess significant upside Upside The potential dollar amount by which the market or a stock could rise. Notes: This is basically an educated guess on how high a stock could go in the near future. See also: Bull, Downside and the ability to add value. The loan, which has an earn-out of up to $30,175,000, has a five-year term. The first three years are interest only, while the last two years amortize amortize To write off gradually and systematically a given amount of money within a specific number of time periods. For example, an accountant amortizes the cost of a long-term asset by deducting a portion of that cost against income in each period. over a 30-year period. A two-year extension option was also made available to the borrower. |
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