Partners reach right comfort level to back luxury Tribeca condo plan.Pantheon Pantheon at Rome was built by Agrippa in 27 B.C., destroyed, and rebuilt in the 2d cent. by Hadrian. Remarkably well preserved, it is mainly of brick with a great hemispherical dome whose supporting walls are set in concrete. In 609 it was converted into a Christian church consecrated to Santa Maria dei Martiri. The term is now applied to a monument in which illustrious dead are buried. Financial LLC, a New York-based real estate merchant bank Merchant Bank A bank that deals mostly in (but is not limited to) international finance, long-term loans for companies and underwriting. Merchant banks do not provide regular banking services to the general public.Notes: Their knowledge in international finances make merchant banks specialists in dealing with multinational corporations. and one of the affiliate companies of Pantheon, has teamed with Canyon Capital Realty Advisors to close on a $28.25 million bridge loan Bridge Loan A short-term loan that is used until a person or company can secure permanent financing.Notes: Banks offer bridge loans to help home buyers out of a sticky situation. They are short-term loans (up to 1 year) with high interest rates that let you borrow against the value of your old home. Basically it covers the bills until a company or person is approved for a larger loan. See also: Loan for New York City developer, Sleepy Hudson LLC, to fund the acquisition of two contiguous parcels of land to be developed into a luxury residential condominium tower in the Tribeca neighborhood. This represents the first loan closing for Pantheon Financial, and the official launch of the company's national lending platform. Pantheon Financial is targeting several markets nationwide, including the Caribbean, and has earmarked $150 million in lending goals over the next year. The bridge loan financed Sleepy Hudson's acquisition of two adjacent properties located at 369 & 371 Broadway in Tribeca. Sleepy Hudson plans to construct a $115 million, mixed use, 21-story luxury residential condominium tower on the site, which will also include prime retail space on its ground floor. Prodigious Capital Advisors, the exclusive financing consultant for Sleepy Hudson on the project, selected Pantheon Financial because of the long-standing relationship Pantheon has fostered with Canyon as well as the merchant bank's local construction expertise through Pantheon's company Oculus oc·u·li (-l Builders. "We are thrilled to have assembled such a sophisticated team in Canyon, Sleepy Hudson and Prodigious Capital for Pantheon Financial's first loan closing," said Ken Cohen, Pantheon's founder.   ) Abbr. O Eye. "Pantheon and Canyon have partnered before on a variety of transactions," said Bobby Turner, managing partner of Canyon Capital Realty Advisors. "And Pantheon's long history with David Eyzenberg, the president of Prodigious Capital Group, closed the circle and provided all parties involved with a greater level of comfort." Sleepy Hudson is a New York-based multi-family developer founded by David Kislin and Leo Tsimmer. The firm is now completing construction on Highline 519 on West 23rd Street in Chelsea. |
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