REC is acting as the lead lender
for two units, and SBI is the lead lender
for the remaining two.
Loren Houchen, chief operating officer of Business Partners, said the Florida retail property has 13 credit union participants, including Telesis, the lead lender
The documents formatted by the MBA serve as a starting point for two lenders of similar size and capacity to begin negotiations over issues such as ownership interests, voting rights, lead lender
obligations and loan administration and servicing.
Participation loan: (1) A mortgage mode by one lender, known as the lead lender
, in which one or more other lenders, known as participants, own a pert interest; (2) A mortgage originated by two or more lenders.
HSBC Securities (USA) was the lead lender
in providing construction financing in the amount of $159,435,000,000, with the Union Labor Life Insurance Company (ULLICO) as co-lead lender
People's is the lead lender
on the financing, which also includes participants Cape Cod Bank & Trust and Eastern Bank.
Randy Lee, founder and CEO of Leewood Real Estate Group, added, "The Willow Green community and this 'Excellence in Housing Award' would not have been possible without the support of the City of Trenton, the State of New Jersey, Lutheran Social Ministries, the Federal Home Loan Bank, and Richmond County Savings Bank, Willow Green's lead lender
a Chicago-based bank, as the lead lender
and assisted in securing two of the four participants for the $80 million construction loan and secured an institutional investor to provide the $30 million mezzanine loan.