Cohen Financial Secures $21.1 Million in Financing for Nine-Story Former Macy's Parking Garage in Seattle, Washington.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- 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 announced that Angus Cameron, director in its San Francisco office, has secured $21.1 million in debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay for the refinance and renovation of Macy's Garage for Portland, Oregon based Pine Garage, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The property is a nine-story, 826-space parking garage located at 1601 Third Avenue in Seattle, Washington. "The financing is a recapitalization of the existing parking structure that also allows for renovation of the retail spaces and exteriors in conjunction with the new high-rise development on the adjacent site," said Cameron. Cohen Financial recently arranged financing for the new development project. The borrower plans to renovate the retail spaces on the first and mezzanine level Mezzanine level The period in a company's development just before it goes public. of the building, and increase the total retail space to 29,246 square feet. New exteriors will provide a more upscale environment for the neighborhood. Cameron originated the transaction (which closed in the second quarter of 2006) with Adam N. Cassie and Peter Norrie, both vice presidents in Cohen Financial's Portland, Oregon office. Cohen Financial secured the $21.1 million non-recourse refinancing for the borrower, with structure and terms including more than 90% of Costs and pricing based on the one-month LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). . The lender is a national finance company that provides highly leverage structured financing. 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 more than $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 country through our offices in 10 major markets. Cohen Financial Director Angus Cameron can be reached at 415-591-3131. Cohen Financial San Francisco Office: 111 Sutter Street, Suite 950, San Francisco, CA 94101 or visit www.cohenfinancial.com. |
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