$4,750,000 real estate developer corporate loan manhattan, ny
summary
A $4,750,000 corporate loan was made to a large real estate developer to pay obligations throughout their real estate portfolio as liquidity delays kept occurring within their portfolio.
challenge
large real estate developer in Manhattan, ny needed a $4,750,000 corporate loan to pay obligations throughout their real estate portfolio as liquidity delays kept occurring with their projects. Their trophy 100% sold out condominium project was facing co delays due to punch list items and proceeds from those closings were to be used on other projects they already had started.
solution
provide flexible financing at the corporate level to provide the portfolio with liquidity to meet equity obligations on other projects, while using the 100% sold out condominium project to payoff our corporate loan once closings occur.