Fremont secures $240M for condominium projects.Fremont Investment & Loan has inked two deals totaling $240 million for separate acquisition and conversion projects. The company has provided $131 million in first mortgage financing to The RADCO RADCO Rappahannock Area Development Commission Companies for the acquisition and conversion to condominiums of Longwood Towers in Brookline, MA, it was announced by Patrick Crandall, vice president and regional manager of Fremont's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of commercial real estate regional office. Meredith & Grew served as the mortgage broker. Said Crandall, "This is a classic Fremont deal, in that we had to underwrite the asset and market, understand multiple construction-related issues, and document a complicated ownership structure, all in a very short time frame." "Longwood Towers is a signature property and we are proud to own it," said Norman Radow, president of The RADCO Companies. "We intend to embrace all of the wonderful characteristics that make Longwood special, while bringing to life its unrealized potential." Longwood Towers, completed in 1927, is a 277-unit residential community comprised of three 10-story Gothic-style brick buildings with extensive common areas. The property has a storied past, including John F. Kennedy "John Kennedy" and "JFK" redirect here. For other uses, see John Kennedy (disambiguation) and JFK (disambiguation). John Fitzgerald Kennedy (May 29, 1917–November 22, 1963), was the thirty-fifth President of the United States, serving from 1961 until his assassination in announcing his acceptance of the nomination for President in the grand ballroom. In a separate deal, Fremont Investment & Loan provided $109 million in financing to Port Kihei Investments, Inc. for the conversion to condominium of the Emery Bay Club Apartments. This deal was brokered by Jonathan Soffer and Ramsey Daya of 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. Emery Bay Club is an existing 425-unit project built in 1989. The project was mapped during the original development; however, it has been operating in conjunction with an adjacent development as an apartment project for the last 16 years. The site is centrally located in Emeryville, which sits just north of the east entrance to the Bay Bridge and approximately 300 yards from the eastern shore of the San Francisco Bay San Francisco Bay, 50 mi (80 km) long and from 3 to 13 mi (4.8–21 km) wide, W Calif.; entered through the Golden Gate, a strait between two peninsulas. . 35% of the units enjoy views of the Bay Bridge, 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 skyline, Golden Gate Bridge Golden Gate Bridge, across the Golden Gate from San Francisco to Marin Co., W Calif.; built 1933–37. Its overall length is 9,266 ft (2,824 m); its main span across the strait, 4,200 ft (1,280 m), is one of the longest bridges in the world. Joseph B. and Alcatraz. |
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