PRESS
RELEASE
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WINTER & COMPANY
COMMERCIAL REAL ESTATE
FINANCE closes a $1,000,000
loan on a Cobble
Hill cooperative
for the second time |
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For
Immediate Release: New York: Winter & Company
has successfully refinanced the underlying
mortgage for a 17-unit cooperative
in Cobble Hill, Brooklyn for the
second time.
In 1998, Winter & Company had
arranged a 22-year fully self-liquidating
mortgage for the co-op with an interest
rate of 7.58%. Recently, the co-op
Board decided to refinance their
mortgage to take advantage of lower
interest rates and add to their cash
reserves for future capital improvements.
The new $1,000,000, 30-year fully
self-liquidating loan was fixed at
an interest rate of 6.15%. The new
loan will be able to provide subordinate
financing over the years in the event
the co-op has the need for repairs
or capital improvements. The prepayment
penalty on the new loan will be only
1% in years 16-30.
Winter & Company takes particular
pride in its many repeat customers
who seek our services years after
the initial transaction. Gregg Winter,
President of Winter & Company,
closed the loan on January 26, 2004.
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
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