Meecorp Closes Landmark Construction Loan to Vive Verde - the World's First Living Office Building.FORT LEE, N.J. -- Meecorp Capital Markets (a privately-owned commercial real estate lender specializing in value-added commercial real estate projects) today announced it has closed a three-year $6.9 million bridge and construction loan to Vive Verde North, the world's first "living" office building located in historic Lake Worth, FL.
The 4-story, 33,000 square-foot structure at 1005 Lake Avenue is the brainchild brain·child
An original idea or plan attributed to a person or group.
Informal an idea or plan produced by creative thought
Noun 1. of John Romano, a successful personal injury lawyer and keen environmentalist environmentalist
a person with an interest and knowledge about the interaction of humans and animals with the environment. . He commissioned the architectural and engineering firm Living Designs Group, LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control , which developed a process they've dubbed dub 1
tr.v. dubbed, dub·bing, dubs
1. To tap lightly on the shoulder by way of conferring knighthood.
2. To honor with a new title or description.
3. "aqua-techture" - referring to the innovative water-driven design of the building. Vive Verde will collect, treat, and re-use rainwater gathered in a lush rooftop garden, simulating a wetlands ecosystem. The turf will also serve to absorb the Florida heat and insulate in·su·late
tr.v. in·su·lat·ed, in·su·lat·ing, in·su·lates
1. To cause to be in a detached or isolated position. See Synonyms at isolate.
2. the building. A first floor parking garage, paved in a special porous concrete, will allow water to seep through to the aquifer aquifer (ăk`wĭfər): see artesian well.
In hydrology, a rock layer or sequence that contains water and releases it in appreciable amounts. .
Vive Verde has been registered with the Green Building Council and certified by LEED (Leadership in Energy and Environmental Design The Leadership in Energy and Environmental Design (LEED) Green Building Rating System, developed by the U.S. Green Building Council, provides a suite of standards for environmentally sustainable construction. ), the nationally accepted benchmark for the design, construction, and operation of high performance green buildings. LEED-certified properties typically use 20-50% less energy than traditional office buildings and up to 30% less water.
"We went to Meecorp presenting both a dream and an obstacle," explains John Romano, Owner of Viva Verde. "The dream was to construct the world's first 'living' office building - a cutting edge EcoCenter. The only real obstacle would be putting together a financing package with many unique components requiring a great deal of creativity and innovation on the part of the lender. This was not going to be a conventional loan. In the end, Meecorp did exactly what it said it would do. It came up with a way to develop this package into a workable construction loan. Its representatives were knowledgeable, responsive, and eager to get this loan done."
"We recognized the inherent value of going green," says Daniel Edrei, Director Principles Group at Meecorp. "It's an idea whose time has come. We were very excited to play our part."
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 offers bridge loans, mezzanine debt, construction financing (including land development) and occasionally equity participation. It specializes in non-conforming transactions ranging from $2 million to $100 million and above. Please visit http://www.meecorp.com.