Capital & Venture Resources, Ltd. 

We obtained a $42,000,000.00 loan in connection with the refinancing of a $19,000,000.00 mortgage secured by 240 “C’ level apartment building on the west side of Manhattan. The property was subject to a HAP contract that only had 4 years remaining. All of the tenants were receiving significant subsidies under the HAP contract, so it was very challenging to obtain this financing. Yet, we obtained market rate financing on a high leverage basis. This loan also resulted in a significant cash out for the owner.

           We obtained a permanent loan for a newly constructed hotel in Jamaica, New York, a 110 room Club Doubletree Hotel. You have likely driven by this property on Rockaway Boulevard. This loan was very difficult as it closed at a time when most lenders were not even considering making loans for newly constructed hotels, particularly those which are affiliated with airports. We also obtained a permanent loan in the amount of $6,500,000.00 for a 79 room Holiday Inn Express, just outside the Midtown Tunnel in Long Island City, which many of you likely see when you travel on the Long Island Expressway into Manhattan. Again, most of our competitors do not truly understand the hotel business and those that do, gave us little chance of these placements. We also prepared the business plans for both of these development projects.

$18,050,000.00

168 Unit Multifamily Property, Scarsdale, NY. 

Cash Out

Paid Off Mezz Loan

Interest Rate 5.27%, 10 Year Term

$8,700,000.00

Syracuse Hilton Garden Inn

Syracuse, NY.

75% LTV, 1.30 DSC

Interest Rate of 5.40%

$5,000,000.00

Hannaford Supermarket

Single Tenant, Western NY.   

10 Year Term, Interest Rate of  5.10%