HFF harnesses $18m for L.I. senior housing development.The 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 office of HFF HFF Hochschule für Fernsehen und Film München (Germany) HFF Heartland Film Festival HFF Hardy Fern Foundation HFF Half Forward Flank (football position) HFF Horizontal Flute Factor (Holliday Fenoglio Fowler, L.P.) announced that it secured land acquisition financing totaling $18.4 million for The Vineyards at Blue Point, a to-be-developed, 280-unit senior living project in Blue Point (Long Island), New York. Working exclusively on behalf of Garden City-based Ornstein Leyton Company, HFF managing director Evan Pariser and senior real estate analyst Michael McGovern Michael McGovern (b. 12 July 1984, Enniskillen, Northern Ireland) is a Northern Ireland U-21 international goalkeeper, currently playing for Celtic. He made his first-team debut for Celtic as a substitute in Henrik Larsson's farewell testimonial match. placed a $6.9 million, adjustable-rate senior loan with M&T Bank and an $11.5 million mezzanine loan A mezzanine loan is a relatively large loan, typically unsecured (ie., not backed by a pledging of assets) or with a deeply subordinated security structure (e.g., third lien on the property but non-recourse vis-a-vis the borrower). with Square Mile Capital Management LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control & Latus Partners LLC. Proceeds are being used to acquire the land and complete site plan approval. The Vineyards at Blue Point site is 65 acres on the south side of Sunrise Highway close to the south shore beaches of Long Island and Great South Bay in Blue Point. Upon completion, the property will have 44 buildings with townhomes and single-level flats. The units will all be two-bedroom/ two-baths with nine-foot ceilings, oversized o·ver·size n. 1. A size that is larger than usual. 2. An oversize article or object. adj. o·ver·size also o·ver·sized Larger in size than usual or necessary. master bathrooms, in-unit washer/dryers and attached garages. Community amenities will include an outdoor swimming pool, tennis court, bocce court and clubhouse with fitness center and meeting rooms. The first units are expected to be delivered by late 2008/early 2009. "Ornstein Leyton's significant development experience on Long Island was instrumental in attracting investors M&T Bank, Square Mile Capital and Latus Partners to this transaction," said Pariser. "The firm has a proven track record for building quality housing communities throughout the metropolitan area." Founded in 1991, OLC OLC - On-Line Computer system Corporation is a regional real estate development company that focuses on building traditional residential communities and planned retirement communities throughout Long Island, Brooklyn, Westchester County, Dutchess County and Putnam County. OLC also invests in commercial properties in these same areas. |
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