CWSG $45m debt and equity deal will finish the job at Parc Lincoln.Cushman & Wakefield Sonnenblick Goldman has arranged debt and equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. totaling $44.4 million on behalf of West 75th 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. , LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , for the acquisition and redevelopment of 164-168 West 75th St. Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. Capital provided $35.9 million in senior acquisition and development financing while a major pension fund advisor provided $8.5 million in joint venture equity. Originally built in the early 1920s as the Pare Lincoln Hotel, the property currently contains 214 residential units and ground floor retail space occupied by Cesca restaurant. The new owner's plan is to complete the ongoing conversion of the property into a residential rental building which, upon completion, will contain 175 studio and one-bedroom units. The previous owner had completed the conversion of approximately 50% of the former SROs to market rent apartments when the property was put on the market. "The rare opportunity to finance a Manhattan residential property with substantial upside Upside The potential dollar amount by which the market or a stock could rise. Notes: This is basically an educated guess on how high a stock could go in the near future. See also: Bull, Downside was appealing to a number of lenders and equity investors, which enabled us to structure a financing package with terms favorable to our client," said Chris Whittleton, executive director at Cushman & Wakefield Sonnenblick Goldman. |
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