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Multi Capital Group inks city hotel deal.

Multi Capital Group has arranged for a $39,100,000 loan for a hotel development located ha the financial district of Manhattan.

The loan is a land and pre-construction loan for a 242 key hotel development that will include meeting spaces, a health club, a bar and lounge, and a restaurant on the 32nd floor.

Eli Verschleiser, a founding partner at MCG stated that ha today's market it is not a secret that it is difficult to fund ground up construction loans, but ha the past 30 days, MCG has closed two new construction loans for EB Developers.

The other loan was ha South Florida, a truly difficult market to get funding. Eli Verschleiser also stated that it is the unique relationships that MCG has built with the lenders that allow Multi Capital to achieve the difficult tasks in this lending environment. EB Developers is a publicly traded company with corporate offices located in Boca Raton, Florida. For over a decade EB Developers and Berdugo Homes have been setting the benchmark for the single-family, multi-family and high-rise residential markets. Thousands of people live in the finest quality of homes, which have been built by EB Developers.
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Title Annotation:FINANCE
Comment:Multi Capital Group inks city hotel deal.(FINANCE)
Publication:Real Estate Weekly
Date:Mar 26, 2008
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