High leverage, Non-recourse financing.
NEW YORK (PRWEB) November 13, 2019
Trinity Street Capital Partners (TSCP) (http://www.trinitystreetcp.com), a full service real estate investment bank, announces the origination of a $17MM, high leverage permanent loan for the acquisition of a Kohl's anchored shopping center, located in Nanuet, NY. The non-recourse, permanent loan had a 10 year term, with a 30 year amortization.
Nanuet is a hamlet and census-designated place in the town of Clarkstown, Rockland County, New York. It is located midway between Manhattan and Bear Mountain, 19 miles north and south of each respectively; and 2 miles north of the New Jersey border. It has one of three Rockland County stations on New Jersey Transit's Pascack Valley Line. The population of Nanuet was 17,882 at the 2010 census.
The opening of the New York State Thruway (Interstate 87/287), the Tappan Zee Bridge, and the Palisades Interstate Parkway in the 1950s helped usher in decades of population growth and real estate development, including the construction of the Nanuet Mall and local shopping centers.
In 2011, CNN Money ranked Nanuet 76 on its annual 100 Best Places to Live list, citing its relatively inexpensive housing and the recreation/ shopping opportunities in the area. Nanuet was also ranked 24th on CNN Money's annual 100 Best Places to Live list in 2007.
According to senior underwriter at Trinity Street, “The company has a particular niche in financing retail properties with environmental challenges, utilizing proprietary loan structures and deep due diligence dives, TSCP has created high leveraged debt products for commercial real estate owners, despite facing certain environmental issues."