Mission Capital Advisors announced that its Debt & Equity Finance Group has arranged $29 million in non-recourse
acquisition and renovation financing for 2415 Third Avenue, an eight-story, 175,000 s/f commercial loft property in the Mott Haven section of The Bronx.
The proceeds of this $7MM, 65% loan-to-value non-recourse
loan were used by the borrower, A&M Hospitality, for the refinance of recourse, local bank renovation debt.
On Friday, March 1, 2013, Cinedigm announced the closing of a $125 million senior non-recourse
credit facility led by Societe Generale Corporate & Investment Banking and a $70 million non-recourse
credit facility provided by Prospect Capital Corporation (NASDAQ: PSEC).
39 million debts using the proceeds of new non-recourse
debt facilities arranged with Bank Muscat, National Bank of Oman and Arab Banking Corporation.
A lender sometimes makes a commercial real estate mortgage loan on a non-recourse
basis to a borrower where the borrower has a proven track record and its asset has a value that is significantly higher than the loan amount.
2 million non-recourse
loan from Bear Stearns Commercial Mortgage Inc.
First Wind, an independent North American wind power developer, has secured a non-recourse
term loan from Hannover, Germany-based HSH Nordbank AG and NORD/LB for its 125 megawatt Cohocton Wind power project in Cohocton, NY.
The court in Pleasant Summit noted that while a taxpayer holding property subject to a non-recourse
debt in excess of the market value of the property may have no incentive to pay off any portion of the debt, "it is equally logical to recognize that the creditor holding the debt has no incentive to take back the property if the taxpayer offers to pay the debt up to the value of the property.
The allocation of assets between a portfolio lender and a non-recourse
lender provided the borrower with the necessary flexibility for future development and a great non-recourse
rate," according to Haynes.
25MM in non-recourse
financing for a 194-room, 5 Star, full-service Hilton Garden Inn located in Southfield, MI.
A recent twist to the story is the holder of the Crossroads debt has sued Flake, Rogers and Mathias and claims a legal loophole to the non-recourse
Judgment Entered Against MCC Non-Recourse
Premium Finance Borrowers Who Acknowledge the Benefits and Validity of MCC's Non-Recourse