$41m Van Heusen loan.Meridian Capital Group recently arranged financing in the amount of $41,950,000 for the Van Heusen Headquarters located at 1001 Frontier Road. The three-story, Class A office building contains 224,313 s/f. Meridian's David Rosenberg and Seth K. Grossman negotiated on behalf of Fortis Property Group, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to secure 90% financing with ten-years interest-only. $37.95 million of the financing was for a first mortgage with a mezz component for $4 million. Van Heusen initially rented part of the building and had right of first refusal Right of First Refusal In general, the right of a person or company to purchase something before the offering is made available to others. Notes: For example, a football team may have the right of first refusal on a player's contract. . When the other tenant expired in 2006, they took over the entire building. The company intends to sublet sub·let tr.v. sub·let, sub·let·ting, sub·lets 1. To rent (property one holds by lease) to another. 2. To subcontract (work). n. a small portion of the property to Hewlett-Packard. Fortis is a real estate investment and management company headquartered in Brooklyn, NY, with properties located throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . |
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