Steven Anello of CFA Capital Partners ‘CFA’
On the Challenge of Closing a Multimillion Dollar Mezzanine Loan In 9
Business Days
RYE, N.Y. (Business Wire EON/PRWEB ) August 6, 2008 --
A leading developer of office buildings in Manhattan needed
$6.2 million for the closing of his next venture. The challenge: he
needed it in less than 2 weeks. A massive multimillion dollar prepayment
penalty prevented the implementation of a recorded mortgage. With time
running out and money hard in escrow, the deal had to close on time to
avoid the potential loss of over $2 million. CFA Capital Partners was
contacted with 11 business days remaining until the expiration of the
contract.
“This is not the same industry that it
was two years ago, or even 9 months ago. The margins have tightened
across the board, and we need to differentiate ourselves from our
competitors”, said Mr. Anello. “How
do we set ourselves apart? It depends largely on the deal. In this case,
our fluidity of movement and back office integration allow us to close
deals that other lenders have a difficult time with.”
“This is an industry strongly based on trust,
and each time we are able to step in and help a borrower like this, we
are helping to ensure that we will have a repeat customer,”
added Mr. Anello. “My business is built on
satisfied borrowers. It’s why we’re
still thriving while so many direct lenders are out of business”.
As a company that has proven itself with a multitude of successful
deals, CFA has built a strong reputation for managing complex financial
transactions, acquisitions, and recapitalizations with its innovative
bridge and mezzanine programs. CFA has successfully funded assets such
as multifamily residential, hotels, office buildings, medical
facilities, and retail.
See the original story at: http://eon.businesswire.com/releases/business/anello/prweb1186434.htm
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