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Glenmary Glen Office

Last week's commercial mortgage activity

February 11, 2002

By SAM GARCIA

A proposed 512-unit luxury apartment community in the Fern Creek area of Louisville, Kentucky has received $17.6 million in construction financing. Renaissance-Glenmary Village Apartments, LLC., obtained financing arranged by Holliday Fenoglio Fowler, L.P. (HFF), through Firstar Bank/U.S. Bank National Associates. The apartments, which will include 32 buildings, are part of a larger, 134-acre Glenmary Village residential project planned by a local real estate and management company.
MortgageDaily.com
Leasehold financing in the amount of $28 million was obtained for The Legal Center at One Riverfront Plaza, a 418,000 square foot 20-story office tower connected to Newark's Pennsylvania Station and the Gateway Complex. The financing, arranged by HFF through The Dime Saving Bank of New York, was provided to Matrix Development Group. "The long-term fixed-rate leasehold financing was structured to meet Matrix's business plan for the property, said HFF's Tom Didio.

Sam Garcia has been in mortgage lending since 1980, and is managing editor of MortgageDaily.com. He also owns and operates CloseNow.com, a real estate portal site.

email: [email protected]

Copyright © 2002 Sam Garcia

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