New York City
USA East Coast-Large Development Facilities
The solution involved both debt and equity being arranged.
Location: New York City
Project: The conversion of a office block into 420 residential units
Project costs: $350 Million
Capital structure arranged:
Senior debt of $250 Million
Equity of $100 Million
Our respective funders prefer the East Coast of the USA.
We do need quality sponsors who demonstrate a track record of being able to deliver such projects. We also need sponsors with a good NET worth as there needs to be comfort for the lenders concerning cost overruns.