Hudson Realty buys loan share.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) ) of 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 has purchased a $5.46 million, 49% interest in an 18-month 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). made to Tuscano Development at Suncoast Crossing, LLC in conjunction with the condominium conversion of a 344-unit apartment complex in Odessa, Pasco County, Fla. The mezzanine loan is secured by 100% equity ownership interest in Suncoast Apartments of Tampa LLC, which owns the property known as Tuscano at Suncoast Crossings. As of March 2006 178 units, approximately 52%, were sold or under contract. "Sales have been brisk at the property, which offers homebuyers a unique opportunity to purchase new construction in the Tampa area for less than $250,000 per unit. In addition, we were very impressed with the sponsorship of this particular project as they had completed several projects in the market and had a very hands-on approach," remarked Spencer Garfield, managing director of HRC, a real estate opportunity fund manager. |
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