Pembrook Capital Management Provides $47.1M Loan

Posted by Orb Staff on July 26, 2010 No Comments
Categories : FYI

http://www.pembrookgroup.com]Pembrook Capital Management LLC[/link], a commercial real estate investment management company, has provided a $47.1 million, 24-month fixed-rate loan to recapitalize 100 11th Ave., condominiums located in the Chelsea neighborhood of Manhattan. The property construction is completed, and 26 of its 54 units have been sold and closed. The loan was closed three weeks from the date the owners signed the loan application, Pembrook says. Pembrook originates and acquires commercial real estate debt in the form of first mortgages, participating first-mortgage loans, B-notes and mezzanine loans in major market. Target asset classes are multifamily, retail, multi-tenant office, medical office and warehouse/distribution properties with well-diversified tenancy. SOURCE: [link=http://www.pembrookgroup.com]Pembrook Capital Management

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