CBRE inks bridge loan for industrial flex space.Ron Noun 1. Ron - a Chadic language spoken in northern Nigeria Bokkos, Daffo West Chadic - a group of Chadic languages spoken in northern Nigeria; Hausa in the most important member Roth, director of CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) I Melody's Stamford Stamford, town, England Stamford, town (1991 pop. 18,127), in the Parts of Kesteven, Lincolnshire, E central England, on the Welland River. It is a market town. Products include diesel engines, electrical equipment, bricks, and tiles. office announced that he has arranged bridge financing Bridge Financing A method of financing, used by companies before their IPO, to obtain necessary cash for the maintenance of operations. Notes: These funds are usually supplied by the investment bank underwriting the new issue. in the amount of $30,000,000 million for the owners of 333 North Bedford Road in Mt. Kisco, NY. Roth secured the funding for this transaction with a balance sheet lender on behalf of Diamond Properties, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Terms of the financing include a floating rate, non-recourse loan. The financing, which was completed in February, 2007, represented the refinancing Refinancing An extension and/or increase in amount of existing debt. of the owner's acquisition financing with additional advance features under the new loan to provide funds for tenant improvements, leasing commissions, capital improvements and return of equity. 333 North Bedford Road is a 574,600 s/f, flex industrial/office building that was originally constructed in 1957 by Grand Union for use as a distribution facility for their grocery operations. The facility stood unoccupied for an eight year period prior to its acquisition by the current owners in 2005. Immediately following their purchase of the building, the owners began exploring redevelopment options for the property. Subsequent discussions with the local municipalities resulted in approvals to convert the facility from single tenant use to multi-tenant use. A program of extensive capital upgrades to the property has been ongoing since the acquisition, and will result in an attractive, modern and highly efficient facility for a variety of tenants. Ownership has also constructed and dedicated a new athletic playing field for use by the Town of Mt. Kisco and its residents. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion