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Capmark Finance Inc. Originates $95.54 Million in Financing for CIS Portfolio.


MIAMI -- Capmark Finance Inc. (Capmark Finance) has originated $95.54 million in floating-rate, construction financing for four build-to-suit General Services Administration (GSA) office buildings in metro Miami, Fla. The buildings will be leased to Citizenship & Immigration Services (CIS). The loan has a 16-month term on an interest-only basis.

The CIS Portfolio will be situated on approximately 19.4 acres of land and contain a total of 197,603 square feet of rentable space. The federal agency CIS will fully occupy the properties upon completion. These four buildings represent the first four CIS facilities being built in the U.S. Over the next three years, an additional 30 sites will be built nationwide.

Vice President Marvin Hill and Assistant Vice President Greg Ciambruschini of the Capmark Finance Washington, D.C. office originated the transaction, which closed in just 41 days from application. Artesia Mortgage Capital funded the transaction and also provided the borrower, South Florida Federal Partners, LLC, with a 16-month forward commitment for permanent take-out financing. South Florida Federal Partners, a joint venture between two developers located in Washington, D.C. and Miami, respectively, won the solicitation to build all four buildings.

"Working on behalf of our client, Capmark Finance arranged 100 percent loan-to-cost construction financing through Artesia Commercial Mortgage at a very competitive interest rate," said Ciambruschini. "The GSA will lease the four facilities for 15 years with leases that include the ability to increase each facility's net rentable area."

About Capmark[TM]:

Capmark is a leading real estate financial company with three core businesses: lending and mortgage banking, investments and funds management, and loan servicing. Capmark operates in North America, Europe and Asia.

Capmark Finance Inc., the U.S. real estate lending and mortgage banking operations of Capmark, has access to multiple capital sources and offers a full range of financing solutions and resources. Capmark Finance is a direct lender, a correspondent for insurance companies, pension funds and other capital markets conduits and one of the leading approved lenders for Fannie Mae, Freddie Mac and HUD/FHA.

With a servicing portfolio of approximately $310.9 billion as of Dec. 31, 2006, Capmark Finance is one of the industry's leading loan servicers.

Capmark Investments LP, the investments and funds management operation of Capmark, is an established manager of equity real estate and mortgage-related investments in the public and private markets with approximately $13.7 billion in investments under management and supervision as of Dec. 31, 2006.

For more information about Capmark, visit www.capmark.com.

Mortgage Banking Licenses: CA: CA Department of Corporations Finance Lender License (lending) and CA Dept. of Real Estate Broker License #00398180 (brokering); MI: Capmark Finance Inc., Michigan Real Estate Broker, Phone 248-208-3460; NV: Capmark Finance Inc., 1 East Liberty Street, 6th Floor, Suite 12, Reno, NV, Phone: 775-686-6690; NY: Capmark Finance Inc., New York Real Estate Broker

(c)2007 Capmark Financial Group Inc. All rights reserved.

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Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:May 4, 2007
Words:482
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