The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Concord Summit Capital, 3650 REIT Close $83MM Midconstruction Loan for Mixed-Use Residential and Retail Development
Thursday, September 12, 2024
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Lenders/Participants
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Concord Summit Capital [Arranger]
3650 REIT [Loan Originator]
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Structure
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Construction Financing Facility
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Amount
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$83.000
Million
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Borrower(s)
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Undisclosed
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Description
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The loan was sourced on behalf of the existing senior lender who had funded the project to more than 50% project completion and was seeking a new lending partner to complete it. 3650 REIT stepped into the project midconstruction with a multilayered capital stack that included Commercial Property Assessed Clean Energy program financing and a brownfield tax credit bridge loan. CSC quickly secured the new lender and established a clear roadmap to ensure a smooth closing. As a result, the project was funded within a single construction draw cycle, with the lender’s skilled closing team further ensuring a successful outcome for all parties involved.
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Industry
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Real Estate
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Location
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NY
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| Related Tags |
Commercial Real Estate
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ABL Advisor
Deal Tables
2024
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