Overview
 Selected Investments
 
 Real Estate Investment Bank
 CRE Portfolio Consulting
 Representative Transactions
   
 Overview
 Community Relations
 History
 Employee Biographies
 Offices
 General Inquiries
 Employee Email
 Careers
Header1
HeaderBlue
 Home
Header4

Archive

2008-2009

2007

2006

2005

2004

2003

2002

2001

 


2004 Transactions


Tremont Structures $4,000,000 Acquisition Mezzanine Loan


The Chicago office of Tremont Realty Capital structured mezzanine financing for the acquisition of Ventana Hills Apartments. The collateral is a 470-unit, luxury multi-family asset in the Pittsburgh, Pennsylvania area.

A Senior Director with Tremont, arranged the 3-year, non-recourse loan, which was funded through a national mezzanine debt lender and provided about 90% financing. The property was 80% occupied at the time of closing.

The newly completed property included amenities such as controlled access entrance, heated swimming pool, clubhouse with fitness center and a business center. According to Tremont, "Because this property is new and the finest asset in the market, we faced several underwriting challenges: lack of occupancy history, no new apartments in the market to serve as comparable properties, and numerous rent concessions. These factors posed a challenge in determining the true stabilized value, which we were ultimately able to resolve for our client."

For additional information on this transaction, please contact:

Thomas Lorenzini
Managing Director
Email: tlorenzini@tremontcapital.com
Phone: 312.236.0960





























 


 
Footer