For Immediate Release: New York: Winter & Company has successfully arranged a $3,000,000 credit line mortgage for an owner-occupied industrial building in Long Island City, Queens, NY in which the building owners also own and operate the firm occupying the property.

The 60,000 square foot warehouse and office facility is close to Manhattan and has been in the family of the principals for several generations.  The owners were seeking a credit facility against the building for the purpose of having cash available to pursue other real estate ventures.

A 5-year interest-only LIBOR-based credit line was arranged by Gregg Winter, President of Winter & Company, floating at LIBOR plus 2% with no prepayment penalty (as of today the 30-day LIBOR rate is 2.4% resulting in a rate of 4.4% for this borrower).  The loan closed on December 15, 2004 with a local New York lender.

Winter & Company specializes in providing advisory services as well as both institutional and private mortgages to commercial real estate owners and professionals nationwide. Its affiliate, W Financial is a direct private bridge and mezzanine lender providing short-term, special situation financing to developers, owners and investors. If you are an accredited investor and would like to learn more about investing in the Fund, visit PrivateMortgageInvestment.com