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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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SONNENBLICK-GOLDMAN ARRANGES FINANCING FOR SELF-STORAGE FACILITY IN QUEENS, NEW YORK |
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Tuesday, August 27, 2002
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New York, NY
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Sonnenblick-Goldman Company has arranged an acquisition and redevelopment loan on a warehouse in Queens, New York on behalf of Merrick Partners, LLC, whose members are affiliates of The Athena Group and Madison Development. The loan proceeds are being used to acquire the warehouse and convert it into an institutional-quality self-storage facility. A West Coast-based thrift provided the financing.
"This transaction involved finding a lender who was willing to work with the borrower to not only acquire and redevelop this facility, but to work with them on a programmatic basis to acquire and redevelop a portfolio of similar facilities in the future. The underwriting and documentation utilized for this loan closing will serve as a model for future transactions," says Peter Berk, a director in the Capital Markets Group at Sonnenblick-Goldman Company. |
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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