Accordingly, the revolving facility has an initial term of four years with a one-year extension option which will replace the company's senior secured credit facility, while the term facility has an initial term of five years and will be used to repay the existing USD200.0m mortgage loan encumbering
the JV portfolio properties.
Additionally, the company said that the above proceeds include a prepayment penalty reimbursement of USD0.9m related with the early payoff of two mortgage notes encumbering
Dulles Business Park.
(3) The liability encumbering
the property is deemed consideration paid to the transferor, resulting in a part-gift and part-sale.
Houlihan arranged a loan secured by a 1st mortgage in the amount of $2,000,000 encumbering
of a 1.15 acre property improved with a 7-story concrete block and masonry brick doublewing, residential multi-family rental apartment building with two self-service elevators constructed in 1932 located at 33 Williams Street in the Fleetwood section of Mount Vernon, NY.
The fact that a debt encumbering
an individual asset exceeds its basis is irrelevant, based on Butler, 87 TC 734 (1986).
* The refinancing of a $2,200,000 first mortgage loan encumbering
a one-story brick retail building at 143-151 Sherman Ave, aka 593-597 Academy Street, in New York.
The denominator is the excess of the property's FMV over any qualified liability encumbering
or property allocable to the property.(26)
"The refinancing retired the existing low leverage, high coupon, traditional loan encumbering
the property," said Arthur Adler, managing director and CEO for Jones Lang LaSalle Hotels.
the property must be borne proportionally by the TIC holders, and the income from the property must also be shared proportionally.
During the contract period the purchaser was able to get approval by the existing lender to assume the securitized mortgage encumbering
In addition, the translucent glass wall panels provide privacy without encumbering