W&M Capital Funds structures $7m deal.In another demonstration of creativity, flexibility and speed in meeting the special capital needs of real estate entrepreneurs, Wien & Malkin Strategic Capital Funds II and III have created a unique structure to provide $7.3 million of financing to the owner of an unusual office and marina complex in the Twirl Cities suburb suburb, a community in an outlying section of a city or, more commonly, a nearby, politically separate municipality with social and economic ties to the central city. In the 20th cent. of Wayzata, Minn. The four-year investment is initially structured as a loan, which converts during the first 18 months to preferred-equity. Initiated and closed within one month, the transaction includes an option for the property owner to extend the preferred-equity investment for an additional five years. The Wayzata Boat Works office and marina complex is located on the shore of Lake Minnetonka For other uses, see Minnetonka (disambiguation). Lake Minnetonka is a 14,000 acre (57 km) lake in the U.S. state of Minnesota. Throughout its recorded history, the lake has been a resort destination. in Wayzata, an affluent bedroom community about 15 miles west of downtown Minneapolis. Formerly a boat manufacturing site, the complex now consists of a 64,000-square-foot, Class-A office building and an 80-slip marina. Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. and Wachovia National
Bank are the major office tenants.
"The word 'irreplaceable' is an exaggeration Exaggeration Bunyon, Paul legendary giant, hero of tall tales of the logging camps. [Am. Folklore: The Wonderful Adventures of Paul Bunyon] Jenkins’ ear trivial cause of a great quarrel. [Br. Hist. sometimes, but definitely not in this case," observes George S George, river, c.345 mi (560 km) long, rising in a lake on the Quebec-Labrador boundary, E Canada. It flows N through Indian Lake (125 sq mi/324 sq km) to Ungava Bay (an arm of Hudson Strait). . Perry, Senior Vice President and Director of Investments for W&M Properties, which sources and structures investments for the Strategic Capital program. "This is a one-of-a-kind mixed-use property, beautifully situated, serving a community of financial service specialists and other professionals. Our investment benefits from very strong barriers to entry from other office and marina competition. Virtually all of the nearby lakefront is already occupied by high-end residences, and zoning is extremely restrictive." Mr. Perry says the financing was structured in debt and preferred-equity phases "to allow ownership and senior lender to meet their particular requirements and obligations in the most timely way. We were able to make adjustments to the structure of the originally conceived deal and complete our due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and close very quickly. This is the kind of capital transaction for which conventional lenders are ill-equipped." The loan and preferred-equity position are secured by the property itself, and by a first priority interest in the cash distributions of a Class-B office portfolio located throughout the Minneapolis-St. Paul metropolitan area. The loan proceeds were used to amortize amortize To write off gradually and systematically a given amount of money within a specific number of time periods. For example, an accountant amortizes the cost of a long-term asset by deducting a portion of that cost against income in each period. debt on the Class-B portfolio. Murray Kornberg and Douglas Seylar from LJ Melody melody, succession of single tones of varying pitch. Melody is the linear aspect of music, in contrast to harmony, the chordal aspect, which results from the simultaneous sounding of tones. acted as the mortgage brokers in the transaction. |
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