Daily News: January 10, 2014

Related Companies Closes Two Mezzanine/Bridge Investments

Related Companies announced it recently closed on two mezzanine and bridge debt investments in New York City and Santa Ana, California as part of Related’s credit platform.

Related, along with its partners, originated a $100 million mezzanine loan for the acquisition and condominium conversion of four apartment buildings containing 743 units in New York City. The properties are located in the supply constrained neighborhoods of the Upper West Side, Midtown West and Gramercy Park.

Related also recently originated a $34 million bridge loan for the acquisition of an 18-acre site in Santa Ana, CA that contains cash-flowing commercial uses and can accommodate over 1,200 units of multifamily housing. The sponsor had history of entitling properties in the area.