Printer Friendly
The Free Library
6,672,335 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

HRC loan's four-star destination.


Hudson Realty Capital LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 (HRC HRC Human Rights Campaign
HRC Human Rights Council (UN)
HRC Human Rights Commission
HRC Hard Rock Cafe
HRC Hillary Rodham Clinton (democratic senator/presidential candidate; former first lady) 
) has provided a 24-month, $8.4 million interim loan for the redevelopment of a historic hotel and golf course into a four-star destination resort with 216 guest rooms in Bedford, Pa.

Collateral for the funding is a second mortgage lien on the subject property situated on 2,274 acres in the Southern Allegheny Mountains in South Central Pennsylvania South Central Pennsylvania is a region of the U.S. state of Pennsylvania that includes the fourteen counties of Adams, Cumberland, Dauphin, Franklin, Huntingdon, Juniata, Lancaster, Lebanon, Mifflin, Northumberland, Perry, Schuylkill, Snyder, and York. .

The site is located in the Bedford Springs Historic District, which is listed on the National Register of Historic Places This article is about the U.S. Register. For the National Register of Historic Places in Canada see Canadian Register of Historic Places.

The National Register of Historic Places
.

"The comprehensive renovation of this hotel and golf course has broad support from the Commonwealth of Pennsylvania, which awarded a $26 million grant to the property for redevelopment costs," said Spencer Garfield, managing director of HRC, the New York-based real estate opportunity fund manager with $700 million of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. .

Construction of the resort is expected to be complete by May 2007. The sponsors possess extensive experience in the hotel industry in the United States and Latin America.
COPYRIGHT 2006 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:FINANCE
Publication:Real Estate Weekly
Article Type:Brief article
Date:Sep 20, 2006
Words:162
Previous Article:$19m multi-family loan closed by HFF in 22-day transaction.(FINANCE)(Brief article)
Next Article:O'Hare airport hotel is sold.(NATIONAL ROUNDUP)
Topics:



Related Articles
Hudson Realty celebrates $120m in deals in first year.(Banking & Finance)
Institutional investor forum.(Banking & Finance)
Hudson funds $15m 'Tech Triangle' loan.(Hudson Realty Capital Inc.)
Hudson ventures into no fund's land.(Hudson Realty Capital Inc.)
Hudson funds Manhattan development loan.(Hudson Realty Capital Inc. arranges financing for a real estate developer)(Brief Article)
Garfield stands out in crowd of risk-takers.(PROFILE OF THE WEEK: Spencer Garfield, Managing director, Hudson Realty Capital)
Beach buys mortgage.(Hudson Realty Capital Inc.)(Brief Article)
Land parcel has potential.(Hudson Realty Capital Inc. provided loan to 214 Bennett, LLC )(Brief article)
Hudson inks $14m loan for LI redevelopment.(Hudson Realty Capital Inc.)(Brief article)
Hudson funds loan for Philly developers.(FINANCE)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles