2003 Transactions
Tremont Arranges Financing
for Office Acquisition
The
Chicago office of Tremont Realty Capital arranged mezzanine
financing for the acquisition of International Place II,
a class-A office property located in Sunrise, Florida.
A Senior Director with Tremont,
arranged the loan, which capped a total of $13,580,000 in
financing. The senior loan was funded by a national bank
and the mezzanine loan was funded through a private mezzanine
fund. The total debt loan provided for roughly 90% loan
to value. The property was 93% occupied at the time of closing
with some additional leasing expected in the next 18 months.
According to Tremont, "Tremont understood the
borrower's time constraints, as not all of the syndicated
equity could be raised on time for successful acquisition
of this asset. We were able to reach into the capital market
and structure an attractive subordinate loan."
For additional information on this transaction,
please contact:
Thomas Lorenzini
Managing Director
Email: tlorenzini@tremontcapital.com
Phone: 312.236.0960
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