Mission Capital announced that its Debt & Equity Finance Group has arranged $11 million in first-mortgage financing for 40 Wooster Street, a six-story, office building located in Manhattan’s coveted SoHo neighborhood.
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FOR IMMEDIATE RELEASE
Mission Capital Advisors Arranges $11 Million in First-‐Mortgage Financing For
40 Wooster Street in New York City
Completed on Behalf of Northwind Group, Deal Reflects Mission Capital’s Ability to Identify Unique Capital Sources in Key Markets
NEW YORK (May 23, 2014) — Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its Debt & Equity Finance Group has arranged $11 million in first-‐ mortgage financing for 40 Wooster Street, a six-‐story, office building located in Manhattan’s coveted SoHo neighborhood.
A Mission Capital team led by Jonathan More, Steven Buchwald and Jamie Matheny secured the non-‐ recourse loan on behalf of Northwind Group, which will use the loan to finance the acquisition of the property.
“By leveraging Mission Capital’s robust network of strategic relationships, we were able to identify a specialty finance company that had not previously completed a deal in Manhattan and was keen to do so,” More said. “Our team was able to help the lender recognize the substantive value of the asset, superb property location and excellent pedigree of this reputable sponsor. Northwind Group continues to acquire unpolished gems throughout Manhattan and we are very proud of our growing relationship with the firm.”
Located in downtown Manhattan, 40 Wooster Street is a classic terra cotta building located within the
historic Cast Iron district.
“Mission Capital continues to identify opportunities that afford well capitalized sponsors attractive financing to acquire value-‐add projects and in today’s competitive landscape, we’ve emerged as a true leader,” More said. “For this particular deal, the property’s exceptional conditions played an important role in attracting competitive financing.”
About Mission Capital Advisors
Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York City, Florida, Texas, California and Mobile, Al. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across commercial and residential loan sales; debt, mezzanine and JV equity placement; and loan portfolio valuation. Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $45 billion of loan sale and financing transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets.
Mission Capital’s seasoned team of industry-‐leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information, visit www.missioncap.com.