Cohen Financial Secures $5.85 Million in Refinancing for Multifamily Development in Dallas, Texas.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 $5.85 million in debt refinancing for 111 fractured condominium units in a multifamily development. The 120,937 square-foot property features condominiums that range in size from 720 to 1218 square feet. The condominiums are located in the Preston Racquet Club at 5840 Spring Valley Road in Dallas. Cohen Financial secured a $5.85 million non-recourse, 30-year amortization, 10-year term loan with three years of interest only, 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 Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. , Inc., a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company. Peter Dunn, Director in Cohen Financial's Houston, Texas office, originated the transaction which closed July 21, 2006. "Lehman Brothers did an outstanding job of managing the issues of refinancing these fractured condominium units with a defeasance prepayment feature," said Dunn. "Our client, a Canadian investment firm, was able to refinance the property at a lower rate, lock in a 10 year deal, increase their cash flow over existing debt and generate net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). in excess of a million dollars." 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. Photo.jpg Available Upon Request |
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