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Palisades Palisades, cliffs along the west bank of the Hudson River, NE N.J. and SE N.Y., extending from N of Jersey City, N.J., to the vicinity of Piermont, N.Y., with a general altitude of from 350 ft to 550 ft (107–168 m).  Financial announced that it has provided a variety of financing loans to three organizations through its Palisades Regional Investment Fund II (PRIF PRIF Peace Research Institute Frankfurt (Germany)  II).

The deals include a $22 million acquisition and improvement financing loan to 350 Warren Street for two prime residential development properties in Jersey City, New Jersey;

A $6 million first mortgage to Competition Properties Corp. for the acquisition of 5100 Belmar Boulevard, a 60,000-square-foot flex building in Wall Township, New Jersey Wall Township is a Township in Monmouth County, New Jersey, United States. As of the United States 2000 Census, the township population was 25,261.

Wall Township was formally incorporated as a township by an Act of the New Jersey Legislature on March 7, 1851.
;

And a $6 million acquisition and improvement financing loan to River Vale Country Club in River Vale, New Jersey River Vale is a township in Bergen County, New Jersey, United States. As of the United States 2000 Census, the township population was 9,449. The community was ranked #29 on the 100 Best Places to Live 2007 survey published by CNN/''Money magazine. .

"Palisades Financial excels at providing a wide variety of loan types in the real estate sector and these three loans are good examples of our breadth of capabilities," said David McLain McLain could refer to several things: Places
  • McLain, Mississippi, USA
  • McLain State Park, Michigan, USA
Notable people
  • Denny McLain, American baseball player.
, principal of Palisades Financial.

"Whether it's a first mortgage, acquisition and improvement financing, a bridge loan, 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).  or a multitude of other types of transactions, the company draws upon its extensive experience in real estate, finance and accounting to identify the best financial solutions for our clients."

Chaz Kauffman of C.H. Kauffman & Associates, Inc., the broker on the River Vale Country Club deal, added, "When you need a financier who can move quickly and understands complex transactions, Palisades Financial is the solution.

"The night before closing River Vale, the deal needed to be adjusted and Palisades made sure we were able to get our client to the closing table.

"Competition Properties Corp. was seeking more than just a lender to assist them with completing this transaction and Palisades Financial has been a great financing partner."
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Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:FINANCE
Publication:Real Estate Weekly
Date:Jan 24, 2007
Words:263
Previous Article:ARCS Commercial Mortgage Co.(FINANCE)
Next Article:Phoenix Realty gathers $176m for workforce housing funds.(FINANCE)



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