12-1-2007:

Winter & Company Commercial Real Estate Finance has closed a time-of-the-essence $11,000,000 leasehold acquisition loan for a mixed-use property consisting of multifamily, retail and garage, in midtown Manhattan. The time-sensitive loan was closed within one week of Winter & Company receiving this challenging assignment.

The first priority leasehold mortgage carries an interest rate of 5.5% and is subject to a ground lease which will reset only 9 years. A nimble regional bank provided financing for thsi deal.

Our client, an active real estate investor, purchased this property from out of bankruptcy, and a quick close was essential to the success of the project.

Winter & Company (www.winter1.com) specializes in providing advisory services for developers and owners nationwide. It's affiliate, W Financial (www.w-financial.com) is a direct private bridge lender providing short-term, special situation financing.