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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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SONNENBLICK-GOLDMAN COMPANY ADVISES TIAA ON SALE OF LOANS |
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Monday, September 24, 2001
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New York, NY
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Sonnenblick-Goldman Company has arranged the sale of six first mortgage loans secured by office buildings in Connecticut and New Jersey on behalf of Teachers Insurance and Annuity Association. The loans were purchased by a major savings bank, which owns assets throughout the United States.
The loans were marketed as two separate portfolios. One portfolio consisted of three cross-collateralized loans secured by three office buildings located in Livingston, New Jersey. The other portfolio consisted of three cross-collateralized loans secured by three office buildings located in Trumbull, Connecticut.
According to Steven A. Kohn, President of Sonnenblick-Goldman Company, “The quick disposition of these notes – after a competitive bid process – demonstrates the demand for first mortgage debt instruments.”
The TIAA-CREF group of companies is a leading financial services organization with approximately $278 billion in assets under management. In addition to being the premier pension system for education and research institutions, the TIAA-CREF group also offers mutual funds, annuities, insurance, and trust services to the general public, and is the leading manager of state-sponsored college savings programs. |
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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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