2005 Transactions
Tremont Structures $10,000,000
Financing for Construction of Restaurant
The
Chicago office of Tremont Realty Capital arranged construction
financing of a new 21,900 square foot restaurant in Schaumburg,
IL. Entourage, a new concept restaurant, is a high-end casual
dining restaurant, featuring a broad menu of quality, large
portion American style cuisine, an active bar scene and
a significant banquet business.
A Senior
Director with Tremont arranged the $10,000,000 loan, which
was funded through a Chicago-based bank. The 36-month loan,
provided for roughly 67% of cost. Tremont was able to accommodate
the borrower with multiple stages throughout the two-year
development process. The new restaurant concept, in a strong
suburban location, was difficult for some lenders to accommodate
despite the strong sales projections. According to Tremont,
"We are so excited to be a part of this development.
Restaurants aren't the easiest asset type to find financing
for; however, Tremont was confident that they could educate
the targeted lenders to the potential of the combination
of the good location as well as the restaurant concept and
management team."
For additional information on this transaction,
please contact:
Thomas Lorenzini
Managing Director
Email: tlorenzini@tremontcapital.com
Phone: 312.236.0960
