Printer Friendly

Mission structures $18M financing.

Mission Capital Advisors Debt and Equity Finance Group structured $18.5 million of nonrecourse bridge financing for The Falls, a 116-unit luxury apartment community in Hudson, New York.

The loan, which was provided by Walker & Dunlop, will retire the existing construction loan and will provide the sponsor with additional proceeds to complete construction of the community.

The Mission Capital team of Rob Beyer, Ari Hirt, Steven Buchwald, Alex Draganiuk, David Behmoaras and Justin Hunt secured the financing on behalf of JMS Construction.

JMS acquired the 22-acre property--formerly the Greenport Elementary School--in 2015, with plans to redevelop it. When complete, the community will comprise four interconnected buildings, featuring indoor and outdoor pools, a fitness center, walking trails, wine cellar, a yoga studio, movie theater, event space and a first-class spa complete with sauna, steam room and salt room.

COPYRIGHT 2017 Hagedorn Publishing
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:TRANSACTIONS; Mission Capital Advisors Debt; Equity Finance Group
Comment:Mission structures $18M financing.(TRANSACTIONS)(Mission Capital Advisors Debt)(Equity Finance Group )
Publication:Real Estate Weekly
Article Type:Brief article
Geographic Code:1U2NY
Date:Oct 18, 2017
Words:137
Previous Article:S&B completes $33M Benenson deal.
Next Article:Experts offer fund facts that can keep NYC moving.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters