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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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Cushman & Wakefield Sonnenblick Goldman Arranges Senior and Mezzanine Acquisition Financing for Lewiston, Maine Office Buildings |
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Tuesday, August 14, 2007
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New York, NY
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Cushman & Wakefield Sonnenblick Goldman has arranged acquisition financing on behalf of Rubicon Investments, LLC, for the purchase of 198 and 200 Main Street in Lewiston, Maine. Merrill Lynch provided the senior loan and RCG Longview provided mezzanine financing.
The State of Maine Department of Health and Human services fully occupies the four-story 200 Main Street, which totals 50,823 square feet, until 2020. Tenants at 198 Main Street include Maine Cardiology Associates, DLL Associates, Bangor Savings Bank and WGME. The 100 percent-leased buildings were recently renovated and expanded by the previous owners.
“This financing closed at a time when many CMBS deals were falling apart, and it was only through an incredibly cooperative effort that the financing was closed on time and as represented,” said Dave Karson, director at Cushman & Wakefield Sonnenblick Goldman. “Merrill Lynch, RCG Longview and the borrower all navigated a tumultuous market and look forward to doing many more deals together”
The buildings are located within Lewiston’s central business district, near Route 196 and less than three miles from I-95. Lewiston is Maine’s second largest city, with 50 percent of the state’s population living and working within a 30 mile radius of Lewiston.
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About Cushman & Wakefield Sonnenblick Goldman
Cushman & Wakefield Sonnenblick Goldman is the industry’s leading independent real estate investment banking firm. The firm was founded as Sonnenblick Goldman in 1893 and it merged with Cushman & Wakefield in 2007. Cushman & Wakefield Sonnenblick Goldman provides a full range of real estate financial services, including debt and equity placements, joint ventures, hospitality investment sales and workout advisory services, and it collaborates world-wide with other divisions of Cushman & Wakefield. Further information can be found at the firm’s website at www.cushwake.com/sonngold.
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