The MONY Group Real Estate Investment Management.The MONY MONY Mutual of New York (Insurance - Syracuse, NY) Group Real Estate Investment Management provided financing totaling more than $130 million in 1999 for six major commercial real estate investments in various areas of the Northeast. The announcement was made by Debra Kloper, vice president of The MONY Group Real Estate Investment Management. MONY provided permanent financing Permanent financing Long-term financing using either debt or equity. permanent financing The long-term financing that supports a long-term asset. in the amount of $28 million for an office building in NYC NYC abbr. New York City NYC New York City ; permanent financing in the amount of $23 million for an office building in NYC; a construction loan in the amount of $19 million for a condominium-conversion project in NYC. permanent financing in the amount of $6 million for a shopping center in North Kingstown, RI; permanent financing in the amount of $27.4 million for two hotels in NYC; and permanent financing in the amount of $27.8 million for R&D/flex buildings in Harrisburg, PA. In addition to offering traditional life insurance financing, MONY is now originating commercial real estate loans for securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. purposes. Although loan-to-values for this product are not as high as those offered by Wall Street lenders, borrowers have the ability to lock-in rates at application. Additionally, MONY is quoting rates as a par lender and retaining servicing of its securitized securitized Of, related to, or being debt securities that are secured with assets. For example, mortgage purchase bonds are secured by mortgages that have been purchased with the bond issue's proceeds. loans, reinforcing a long-standing commitment to its borrowers. |
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