AFC makes sure there's new rooms at the Inn.AFC (1) (Application Foundation Classes) A class library from Microsoft that provides an application framework and graphics, graphical user interface (GUI) and multimedia routines for Java programmers. Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Capital, a boutique real estate investment bank based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. that arranges the right capital for traditional or complex transactions around the country, announced the completion of a $12.5 million recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. of the Inn at Chester Springs in Exton, PA. The transaction allowed the hotel ownership, Haverford Hotels, to refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. its existing mortgage, initiate a comprehensive renovation of the property and buy out its institutional equity partner. This represents the fourth transaction arranged by AFC Realty Capital on behalf of Haverford Hotels. The long-term, fixed rate financing at 5.6% was provided by an institutional source. "We served the owner on many levels, first by structuring a transaction that did not include new equity, our client was able to buy out its institutional equity partner to own 100% of the property at closing," said Michael Sonnabend, principal of AFC Realty Capital. "In addition, the financing will allow for a renovation of the property to enhance its long-term value." Built in the 1980s, The Inn at Chester Springs contains 215 rooms and is the only full-service hotel in the Exton-Lionville Chester Springs, PA area. It is centrally situated between downtown Philadelphia, Reading, Lancaster and the Brandywine Valley. AFC Realty Capital is a real estate investment bank with 20 years of experience arranging capital for middle market owners and developers around the country. Directed by experienced real estate entrepreneurs, AFC is recognized for crafting the most profitable financial solutions for its clients and using its relationships to bring the widest universe of institutional financing options to owners and sponsors. AFC Realty's principals have closed more than 250 equity and mezzanine mez·za·nine n. 1. A partial story between two main stories of a building. 2. The lowest balcony in a theater or the first few rows of that balcony. transactions, and in 2006, closed over $1 billion of debt, mezzanine and equity. |
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