BlueStone has market confidence.BlueStone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Real Estate Capital, a Philadelphia based real estate investment bank, said recent significant deals demonstrate the firm's confidence in the strength of the market. Among the latest transactions, the bank closed a $7.44 million construction loan for The Grand Victorian of Pekin Pekin (pē`kĭn), city (1990 pop. 32,254), seat of Tazewell co., central Ill., a port on the Illinois River; inc. 1839. A processing, rail, and shipping point in a grain, livestock, and dairying area, Pekin has a large food industry. Assisted Living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. Facility. The loan is on behalf of of Wilkinson Development, a subsidiary of Wilkinson Corporation, based in Yakima, Wash. Key Bank and Fifth Third Bank were the lenders. The Grand Victorian of Pekin represents the second of four Grand Victorian Assisted Living Communities Wilkinson Development is developing throughout Illinois. The $7.6 million loan for the first facility was secured by BlueStone in 4th quarter of 2007. Each Grand Victorian Facility will contain approximately 61 units with varying levels of care for residents. A $3 million loan helped secure the first new condo community in Outer Banks in 17 years. The refinance and construction loan was for the Croatan Surf Club, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control in Kill Devil Hills, NC. Royal Bank America was the senior lender in the transaction. Croatan Surf Club, LLC will develop the project. BlueStone also closed a $17 million loan for student housing at Western Kentucky University Student Body Profile WKU had a total enrollment in the Fall Semester of 2002 (the latest published figures) of 17,818 students. Out of this total, 73% were full-time and 85% were undergraduates. Ethnic and racial minority enrollment was just under 13% at 2,097. . NewStar Financial was the lender in the transaction. |
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