John Chase, (bottom right photo) a Senior Director with Tremont, arranged the $14,500,000 loan, which was funded through one of Tremont’s correspondent relationships.
The 10 year loan provided for roughly 65% loan-to-value with a 5.95% interest rate. According to Chase, “The sponsor and Tremont’s correspondent were able to work through issues related to 346 buried heating oil tanks and still able to provide a timely funding that provided a non-recourse loan with equity recapture.”
Tremont Realty Capital, LLC is a national real estate investment and advisory firm, which makes direct debt and equity investments and provides institutional advisory services. Direct programs include high leverage bridge loans, short and long term mezzanine loans and equity capital.
The Annapolis office of Tremont Realty Capital is located at 101 Log Canoe Circle, Suite F, Stevensville, MD 21666. The phone number is 410.604.1744 and the fax number is 410.604.1742. You can visit Tremont on the Internet at http://www.tremontcapital.com/.
Contacts:
John Chase, 410.604.1744, jchase@tremontcapital.com
Aimee Munsey, Senior Associate, Marketing & Communications, Tremont Realty Capital, 200 State Street
Boston, MA 02109, p: 617.867.0700 x784, f: 617.867.0077, amunsey@tremontcapital.com, http://www.tremontcapital.com/
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