Finance Lending
Franklin Credit Announces Hedge Agreements
May 7, 2008

Franklin Credit Management Corp. has announced that it has entered into interest rate swap agreements in order to hedge an additional portion of its interest-rate-sensitive borrowings against future increases in short-term interest rates. Effective April 30, 2008, the Company entered into $275 million (notional amount) of fixed-rate interest rate swaps in order to effectively stabilize the future interest payments on a portion of its interest-sensitive borrowings. The fixed-rate swaps are for a period of three years, are non-amortizing, and at a fixed rate of 3.47 percent. These swaps will reduce further its exposure to future increases in interest costs on a portion of its borrowings due to increases in the 30-day London Interbank Offered Rate (LIBOR). The interest rate swaps were executed with the its lead lending bank.

 
Recent Lending Headlines
liberty harbor $28M Financing Deal Paves Way for NJ Mixed-Use Waterfront Project
Aug. 07, 2008
Plans to erect an upscale 564,000-square-foot mixed-use project on a 2.7-acre coastal brownfield site in Jersey City, N.J., move forward with the closing of a $27.5 million loan to fund the acquisition and the environmental cleanup of the property. EnviroFinance Group L.L.C. provided the financing for developer Statue of Liberty Harbor North Redevelopment Urban Renewal L.L.C.
Emeritus Nets $163M in Loans for Seniors Housing Buy
Aug. 06, 2008
KeyBank Real Estate Capital has secured $163 million in loans to finance the purchase of 19 senior housing properties nationwide. The package will finance Emeritus Senior Living’s purchase of the 19 properties, which range in individual price from $2.9 million to $14.7 million. Upon the completion of the purchases, Emeritus will serve as proprietor of the sites, which are located natonwide.
Westin Ft. Lauderdale $84M in Financing in Place for Fort Lauderdale Hotel Transformation
Aug. 05, 2008
Plans for the conversion of Fort Lauderdale, Fla.'s Sheraton Yankee Trader Hotel into the 433-room Westin Beach Resort have gotten a big boost with the closing of an $84 million financing deal for the project. Borrower A1A Trader L.L.C., an affiliate of Starwood Capital Group, was able to obtain a senior secured increasing term loan from ING Real Estate Finance, which took on the roles of Administrative Agent and Sole Lead Arranger on the transaction.
Michael Rowan GE Real Estate Names New President, Plans Expansion of Arden Realty
Aug. 05, 2008
Just a day after Michael Rowan took the helm as president of GE Real Estate Americas’ equity business unit, he announced today that Arden Realty Inc. will expand its role from working on just the West Coast into a national office platform.
717 W 9th Street Meruelo Maddux Closes on $84M to Finish L.A. Residential Tower
Aug. 05, 2008
Unlike a bevy of construction projects across the country, development of the upscale 214-residence apartment high-rise at 717 W. Ninth St. in Los Angeles will not fall victim to the credit crunch, as Meruelo Maddux Properties Inc. has just closed on an $84 million construction loan. The 35-story structure, located across from the Staples Center sports arena and the $2.5 billion L.A. Live mixed-use project, is part of a long list of developments that are contributing to the multi-billion remake of downtown Los Angeles.
 

 

Tenet Healthcare Takes 165,000 SF in Downtown Dallas
August 08, 2008
By: Dees Stribling, Contributing Correspondent --Tenet Healthcare Corp., an owner of hospitals and other medical facilities nationwide, is planning to move its headquarters to Downtown Dallas. The company, which only moved to the Dallas area from Southern California in 2004,...

JV Shells Out $40M for LA-Area Business Park
August 08, 2008
By: Thomas Peretti, Contributing Correspondent --The joint venture buyer has agreed to purchase College Business Park in Upland, Calif., just east of Los Angeles. The 314,000-square-foot business park sold for $39.9 million to Koll/PER, a limited liability company owned by...

RockBridge Takes $46M North Carolina Hotel Portfolio
August 08, 2008
By: Judy Feldman, Contributing Correspondent --RockBridge Partners, the equity platform of Columbus, Ohio-based RockBridge Capital, has announced the closure of a deal to acquire Gateway Center, a portfolio with four hotels, office and retail space and five acres of land...

Dublin Firm Enters Hotel Partnership with Oman Investment Fund
August 08, 2008
By: Tonie Auer, Southwest Correspondent --A little more than a year after purchasing Jurys Inns hotel chain, Dublin-based international private equity real estate group Quinlan Private has sold a 50 percent partnership interest in the hotel chain to Oman Investment...

Investcorp Forms $1B Entity to Acquire RE Debt
August 07, 2008
Investcorp Forms $1B Entity to Acquire RE Debt By: Dees Stribling, Contributing Correspondent --Though the acquisition of real estate debt isn't new, current market conditions seem to have given investors new impetus to acquire such debt. Recently, Investcorpýýýýýýýýýs U.S.-based real...

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...