Upper East Side Luxury Condominium with Ground-Floor Retail Recapitalization
New York, NY
- Loan Type: Recapitalization
- Property: Luxury 10-unit residential condominium project with ground-floor retail.
- Scenario: Proceeds from Trevian's loan were used to pay off the previous lender, complete construction, fund an interest reserve and partially pay down a preferred equity position after an expected injection of fresh equity did not take place.
- Result: Trevian lends to Sponsor's who are in need of recapitalization financing in order to re-establish reserves, complete construction, and/or buy-out or pay-down investors. Trevian is used to moving quickly and can close a construction completion project in as quickly as 2 - 3 weeks.