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Construction loan closed.


Ted Pomeroy of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2.  Debt & Equity Finance arranged $32.3 million in construction and permanent-debt financing for Riverwinds Cove Apartments, a 259,500 s/f luxury apartment complex, located at 390 Grove Street in West Deptford.

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 the funding for the borrower, Grove Street Realty Urban Renewal.

Grove Stree sought a non-agency solution for the development of the age-restricted multifamily complex, according to according to
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 Pomeroy. Slated for completion in 20!0, Riverwinds Cove Apartments will feature a mid-rise luxury active adult apartment complex located on 1,100 acres along the bank of the Delaware River Delaware River

River in Pennsylvania, Delaware, New Jersey, and New York, U.S. Formed by the junction of its eastern and western branches in southern New York, it flows about 405 mi (650 km) to empty into the Atlantic Ocean at Delaware Bay. Navigable to Trenton, N.J.
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Title Annotation:FINANCE
Publication:Real Estate Weekly
Date:Nov 21, 2007
Words:99
Previous Article:Carlton en route to $2b mark in race for finance.
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