|
March 14, 2006
The Marino Organization
Antares Investment Partners Secures $103 Million Loan From Goldman
Sachs Commercial Mortgage Capital and RBS Greenwich Capital
By: Frank Marino
STAMFORD, CT - March 14, 2006: Antares Investment Partners announced
today that it has secured a $103 Million loan from Goldman Sachs
Commercial Mortgage Capital under its Transitional Loan Program
and RBS Greenwich Capital. Funds from the loan will allow Antares
to proceed with the next steps in the redevelopment of Stamford's
waterfront along the South End. The loan will repay all existing
debt on the property, and will fund predevelopment expenses for
the next eighteen months of the project.
"We are on track to deliver to Stamford a revitalized South
End that will create jobs, tax revenues, and $2 Billion in new investment
to the region," said James Cabrera, managing partner for Antares.
"Our project team is excited to move forward with the next
steps of turning Stamford's South End into one of the most significant
waterfronts along the East Coast."
The capital from the loan will be used to complete the following
steps in the development process: creation of a comprehensive master
plan for the 82- acre project, zoning approval, demolition of the
Pitney Bowes main plant and ancillary buildings, rehabilitation
of the former Pitney Bowes headquarters, and commence environmental
remediation at the properties.
Some $2 billion in new investment is expected to be generated
from this renaissance project. Preliminary concepts include a wide
mix of residential types and prices, including a significant affordable
component, supported by neighborhood retail.
About Antares Investment Partners
A leader in a full range of real estate assets and services, Antares
Investment Partners manages a multi-asset real estate portfolio
valued at approximately $4.5 billion. Headquartered in Greenwich,
Connecticut, the company was founded by Joseph P. Beninati and James
P. Cabrera in 1996. Today, the firm is engaged in real estate investment,
development, construction, management, brokerage, leasing and sales,
and participates in business partnerships with leading capital sources
in the real estate industry.
About Goldman Sachs Commercial Mortgage Capital
Goldman Sachs Commercial Mortgage Capital, L.P., a wholly-owned
subsidiary of Goldman Sachs, is a leading full-service commercial
mortgage lender, providing non-recourse, first mortgage financing
for the acquisition, Re-positioning, Re-tenanting or refinancing
of office, industrial, retail, hotel and multifamily properties
nationwide.
Goldman Sachs is a leading global investment banking and securities
firm, providing a full range of investing, advisory and financing
services worldwide to a substantial and diversified client base,
which includes corporations, financial institutions, governments
and high net worth individuals.
About RBS Greenwich Capital
RBS Greenwich Capital, a wholly-owned subsidiary of The Royal Bank
of Scotland Group (RBS), is a leading institutional fixed income
firm providing the full range of debt capital markets services to
both those seeking to raise capital and those seeking to invest
it. Established in 1981, the firm is a perennial industry-leader
in the U.S. treasury, agency and mortgage backed securities markets,
and in providing real estate and asset-backed financing to its customers.
Working alongside its parent, RBS Greenwich Capital has established
a significant presence in the U.S. credit, foreign exchange and
derivatives markets. The firm also has a longstanding reputation
in providing high quality futures brokerage services and trade strategies
to select clients. For more information about RBS Greenwich Capital,
visit www.rbsgc.com.
CLICK HERE FOR PDF VERSION
BACK
|
