Meecorp Closes $4.0 Million for Newhall Senior Living as Part of $75.0 Million Mezzanine Line of Credit Extended to AREI.FORT LEE, N.J. -- Meecorp Capital Markets, a privately owned commercial real estate lender specializing in value-added commercial real estate projects, today announced the closure of a three-year $4.0 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). to Newhall Capital Resources, an affiliate of Redding Redding, city (1990 pop. 66,462), seat of Shasta co., N central Calif., on the Sacramento River; inc. 1872. A principal tourist center for a mountain and lake region, it also has lumbering, food-processing, and diverse manufacturing. , California-based Asset Real Estate & Investment Co. (AREI AREI Avian Research and Education Institute AREI Autosomal Recessive Exfoliative Ichthyosis ), for the purchase of Newhall Senior Living, a portfolio of three 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. , CA based properties; Capri Retirement Community, Stanford House and Cambridge House Cambridge House is a grade I listed mansion on the northern side of Piccadilly (Number 94) in central London, England. It was built for Charles Wyndham, 2nd Earl of Egremont, who appointed Matthew Brettingham as his architect in 1756. . 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 City-based Shattuck Hammond Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , one of the nation's leading mortgage brokerage firms, brokered the $4.0 million loan. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. P.J. Camp, a Shattuck Hammond broker, " "All of Meecorp's staff were the model of professionalism throughout this transaction. They were thorough, patient, and downright tenacious in seeing that everything went as smoothly as possible." The loan is the third tranche under a $75.0 million line of credit series to be provided to AREI by Meecorp, and the fourth successful loan between the companies. "We have developed a very good working relationship," said Peary D. Wood, chief executive officer, AREI about Meecorp. "Everyone was professional all the way, and they did exactly what they said they would do." "We have a wonderful relationship with AREI and were able to quickly structure and close the transaction based on pre-existing terms and documentation," said Daniel Edrei, director at Meecorp Capital Markets. ABOUT MEECORP CAPITAL MARKETS Based in Fort Lee, New Jersey Fort Lee is a borough in Bergen County, New Jersey, United States. As of the United States 2000 Census, the borough population was 35,461. Fort Lee was formed by an Act of the New Jersey Legislature on March 29, 1904, from the remaining portions of Ridgefield Township. , Meecorp Capital Markets is a commercial real estate lender providing fast, creative funding solutions nationwide. Meecorp provides bridge loans, mezzanine debt, construction financing (including land development) and occasionally even equity participation, and specializes in non-conforming transactions ranging from $1 million to $100 million and above. For more information visit http://www.meecorp.com. ABOUT ASSET REAL ESTATE & INVESTMENT CO. Asset Real Estate and Investment (AREI) is a diversified real estate holding company. AREI specializes in investment, marketing, development and management of real estate projects which range from business centers and mini-storage facilities, housing subdivisions to assisted care facilities, upscale homes and golf courses. AREI operates in partnership with other developers, as well as creating new projects. These projects are funded through syndicates with equity partners. AREI also provides venture capital for selected new and existing businesses. ABOUT SHATTUCK HAMMOND PARTNERS LLC Shattuck Hammond Partners LLC is an independent investment banking and financial advisory firm with offices in New York, Atlanta, Chicago and San Francisco. The Firm offers a broad array of strategic and financial services related to mergers & acquisitions, capital markets and real estate. Shattuck Hammond has deep industry expertise in healthcare as well as other sectors such as specialty non-profit, and real estate. Shattuck Hammond's investment bankers have executed over $10.8 billion in M&A transactions and over $13.8 billion in capital raising transactions since 1993. For more information regarding Shattuck Hammond Partners LLC, please visit our website at www.shattuckhammond.com . |
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