$40,000,000 Floating-Rate & JV Equity Financing 

Altman Warwick arranged a $22,750,000 first mortgage loan and $8,250,000 in JV equity for the acquisition and re-development of a 46,000 square foot mixed-use retail and residential property located on the corner of Broadway and Bleecker Street in the NoHo Section of Manhattan. In addition to arranging very competitive preferred equity terms, we introduced to our client a relationship-driven institutional partner with significant value-add retail development and leasing expertise.  We also recognized that the complimentary skill sets and the divergent risk tolerance between the developer and institution created a highly synergistic partnership.  By keeping the equity investor’s “last-dollar” exposure at a comfortable level, Altman Warwick was able to negotiate an advantageous promoted equity structure for the developer.