4A — April 13 - April 26, 2012 — Financial Digest — Mid Atlantic Real Estate Journal
www.marejournal.com
C REATIVE F INANCING
The three year floating rate loan was structured into two tranches Estreich & Co. arranges bridge financing for the NYC Wyndham TRYP Times Square South Hotel
N
EW YORK CITY, NY — Estreich & Company announced
travel including bunk beds and multimedia living rooms. “We are thrilled to play a role in quickly securing financ- ing for the debut of Wyndham TRYP brand in NorthAmerica”, said Pehlivanian. Due to a pending loan matu- rity, the bridge financing was quickly closed in two weeks with no operating history. The transaction was underwritten based on future operating pro- jections, the experience of the borrower, and the strength of the Wyndham brand. The three year floating rate loan was structured into two tranches with both a senior and a mez- zanine lender. Due to time con- straints, the mezzanine lender accommodated the borrower, closed the entire loan in 12 business days and subsequently worked with the senior lender to quickly close senior mortgage piece within a very short time frame effectively meeting the borrower’s needs and providing the borrower with a fast and seamless execution. Estreich & Company is a source of competitive debt and equity financing for real estate projects of any deal size. Est- reich & Company’s clients in- clude many of the most sophis- ticated real estate professionals in the country, ranging from high net worth individuals to major publicly traded Real Es- tate Investment Trusts. Their clients rely on their knowledge, diligence and market perspec- tive to secure the best possible financing terms and bring each project to closure efficiently and on schedule. In 2011, Estreich & Company has closed over $3 billion of transactions across 20 states and multiple property types with 45 different lending institutions. “With our integrity and expe- rience in financing every type of real estate for 25 years, we have access to the top capital sources. Our skilled team of profession- als distinguishes us from other firms working closely with our clients and becoming in house financial specialists for our clients to achieve the best pos- sible results,” said Pehlivanian. Estreich & Company strives to make the financing process as easy and seamless as possible so their clients can spend their time doing what they do best. Hiring the right intermedi- ary on financing transactions creates value and allows the owner to focus on what they do best. ■
tha t Aram Pehlivanian a n d O l e g F e l d s h e r h a v e a r - ranged $38 million of fi- nancing for the Wynd - ham TRYP
Aram Pehlivanian
Times Square South on be- half of Eros Management & Realty. The strategically located 173 key flagship TRYP hotel opened in February 2012 and features
Wyndham TRYP Times Square South restaurant and bar, executive meeting space, fitness center
the Gastro Bar at 35th a Medi- terranean and Spanish tapas
and spacious signature family guest rooms ideal for family
- Mortgage and Mezzanine Debt
BUILD ON . . .
- Equity and Join Venture
Our Success
- Investment Sales
- Structured Finance
- Loan Sales
- Special Assets and Advisory
7 PENN PLAZA • SUITE 512 • NEWYORK, NY 10001 • (T) 212.736.6770 • (F) 212.736.6363 www.estreich.com The Estreich team of professionals is available to consult and provide debt, equity and structured finance solutions on all asset classes throughout the United States. Over the last 25 years we have continued to build our knowledge base of local markets and strengthen our relationships with the widest range of borrowing sources covering the entire spectrum of the capital markets. To discuss a project or for more information, please call 212–736–6770 or email us at info@estreich.com Let us put our relationships, experience and expertise to work for you Building the Future Together Jonathan Estreich formed Estreich & Company in 1986 and since that time the principles and goals of our organization have remained unchanged. The firm was established upon the commitment to provide the highest level of excellence and service in advising clients on any and all of their Real Estate financing requirements. This founding principle remains true today, with the focus being to completely understand the client’s real estate needs and pursue and deliver optimal solutions.
Made with FlippingBook flipbook maker