Cohen Financial Secures $12.2 Million in Financing for the Acquisition of a Retail Center in East Lansing, Michigan Adjacent to Michigan State University.CHICAGO -- Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Financial, a national real estate finance company, announced that the firm has secured $12.2 million in acquisition financing for Hannah Plaza, a 96,946 square-foot shopping center adjacent to Michigan State University Michigan State University, at East Lansing; land-grant and state supported; coeducational; chartered 1855. It opened in 1857 as Michigan Agricultural College, the first state agricultural college. . The center is anchored by The College Bookstore, a college text bookstore owned by the nationally recognized Nebraska Book Company, a Gold's Gym and 23 other leased tenants. The Hannah Plaza retail center is located at 4790 Hagadorn Road. Cohen Financial secured a $12.2 million non-recourse loan. Terms of the loan include 80 percent loan-to-value (LTV LTV See: Loan-to-value ratio ) and pricing based on the 10-year U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. . The lender is a national conduit lender and the borrower is R&D Hannah Plaza, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Don Trossman, a Director in Cohen Financial's Chicago office, originated the transaction which went to market and was accepted via Cohen Financial's Precept An order, writ, warrant, or process. An order or direction, emanating from authority, to an officer or body of officers, commanding that officer or those officers to do some act within the scope of their powers. Rule imposing a standard of conduct or action. System, its unique Internet-based system for commercial real estate financings. The Precept System combines the industry's most advanced underwriting standards with online quoting and biding bide v. bid·ed or bode , bid·ed, bid·ing, bides v.intr. 1. To remain in a condition or state. 2. a. To wait; tarry. b. . "Hannah Plaza is an excellent addition to our client's real estate investment portfolio," said Trossman. "This shopping center supports 45,000 Michigan State students and a population of more than 68,000 residents within a three mile radius. By utilizing Cohen Financial's Precept System to market this deal, our client was able to tap into a variety of lenders in the marketplace to secure highly competitive bids in an extremely efficient and cost effective manner." About Cohen Financial Cohen Financial is a national real estate finance company offering debt and equity placement, investment brokerage, loan servicing and financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . The company is recognized as one of the nation's largest originators of commercial real estate financing, with over $5.1 billion in total transactions in 2005 and over $5.2 billion in loan servicing. The company has also provided financial advisory services on more than $1 billion of assets. Cohen Financial serves clients throughout the U.S. and Canada through its offices in 10 major markets. About Cohen Financial's Precept System The Precept System features standardized underwriting, loan documentation and due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. reports. Clients who use the Precept System enjoy benefits not found in other origination systems. Each asset is thoroughly underwritten by Cohen Financial experts using a standard methodology pre-approved by the lenders, leading to fewer bid changes, better closing certainty and binding commitments, not soft quotes. The Precept System, which is exclusive to Cohen Financial, reverses the origination process by completing all the underwriting "up front", obtaining the third-party due diligence reports and receiving a cash flow opinion from Standard & Poor's prior to clearing the lender market. Once this process is complete, a real time market clearing process via the Internet is conducted. The auction process enables Cohen Financial to secure for a borrower the highest possible loan proceeds, best pricing and greatest certainty of execution. Photo.jpg Available Upon Request |
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