Ackman-Ziff honored for financing deal of year.The Real Estate Board of 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 (REBNY REBNY Real Estate Board of New York ) recently announced that Ackman-Ziff Real Estate Group won the Most Ingenious in·gen·ious adj. 1. Marked by inventive skill and imagination. 2. Having or arising from an inventive or cunning mind; clever: an ingenious scheme. See Synonyms at clever. 3. Financing Deal of the Year Award. AckmanZiff garnered the award for the acquisition financing of the Guardian Life Building annex an·nex tr.v. an·nexed, an·nex·ing, an·nex·es 1. To append or attach, especially to a larger or more significant thing. 2. (105 East 17th Street). This is their second Deal of the Year Award. As Real Estate Weekly reported back in April, the firm won the Henry Rice Most Ingenious Deal of the Year Award for Ian Schrager's 880-room Henry Hudson Hotel The Hudson was built in 1928 by the daughter of JP Morgan as the American Women’s Association clubhouse and residence for young women in New York. During World War II the building housed Dutch soldiers. Most recently, the space served as the headquarters for Channel Thirteen. . The President of AckmanZiff Real Estate Group, Simon Ziff, said that "winning both awards from the Real Estate Board hasn't really sunk in yet". "The awards reflect our company's unique style of creativity, integrity and team-oriented culture," said Ziff. Ackman-Ziff -- who were retained exclusively -- arranged a $25,250,000 non-recourse acquisition financing of the Guardian Life Building annex. The annex building is 121,912 square feet, three-stories and located adjacent to Guardian Life. The property was leased to a dot-com firm. The Guardian Life building is being developed into a W Hotel. Two Ackman-Ziff brokers -- Simon Ziff and Russell Schildkraut -- closed the deal. The chairman of the Real Estate Finance Committee -- the panel that determined the winner -- was "delighted to give the award to Simon Ziff." He said, however, that the choice was not necessarily easy since "all of the deals we considered were impressive." "Simon used to work with me at another firm a few years ago," added chairman Anderw Singer. As for the other REBNY award they garnered back in April, Ackman-Ziff won it for arranging the acquisition, construction and mezzanine financing Mezzanine Financing A hybrid of debt and equity financing. Mezzanine financing is typically used to finance the expansion of existing companies, and it is basically debt capital that gives the lender the rights to convert to an ownership or equity interest in the company if the for the Henry Hudson Hotel renovation project. Unnamed brokers confirmed that this was the first time in the history of the Henry Hart Henry Hart may refer to:
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