Crestridge Investments Provides Mezzanine Financing for Portfolio of Self-Storage Properties.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Crestridge Investments, an equity and mezzanine financing Mezzanine Financing A hybrid of debt and equity financing. Mezzanine financing is typically used to finance the expansion of existing companies, and it is basically debt capital that gives the lender the rights to convert to an ownership or equity interest in the company if the and venture capital source for real estate companies, has provided $5.64 million in mezzanine financing to Williams Storage Portfolio III Management LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control for the acquisition of a 600,000-square-foot portfolio of self-storage properties located in several western states. "This acquisition meets our investment standards for mezzanine financing in today's market. It is a portfolio of properties that has not been well managed so it offers an opportunity for the new owner to increase net income by applying its expertise to improve the properties and reposition them in their respective markets," said Chris Grey, managing director of Crestridge Investments. Williams Storage Portfolio III Management LLC is an affiliate of an experienced self-storage operator based in Orange County, Calif. Crestridge provides mezzanine mez·za·nine n. 1. A partial story between two main stories of a building. 2. The lowest balcony in a theater or the first few rows of that balcony. and equity lending to proven local owners and developers in select markets. Recently, the firm launched one of the first programs offering venture capital to real estate and related companies, including predevelopment financing for real estate companies pursuing entitlements in urban neighborhoods. "Using our knowledge of real estate and capital markets we can identify opportunities to place venture capital with operating companies operating company A business that engages in transactions with outsiders. that are in some way real estate related. This allows us to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. our investments beyond what we can achieve through our asset based investment program," Grey added. When analyzing a venture capital prospect, Crestridge scrutinizes the quality of the management, its track record, product or service innovation, competitive factors and market potential. Real estate operating companies, such as small developers, may also be considered. Crestridge currently is targeting real estate or real estate-related businesses, preferably based in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . Crestridge Investments, LLC (www.crestridgefinance.com) is a real estate finance and investment company that provides strategic capital for real estate projects and operating companies. The company is an affiliate of international real estate investment firm, Highridge Partners (www.highridgepartners.com) that has acquired, developed or financed a real estate portfolio valued at more than $6 billion over two decades. |
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