The Seligman Group has received $309 million to refinance 23 of its assets throughout California. Financing was secured by Mission Capital.
Wootlesday.July o • 2015
SEliGMAN GROUP'S CALIFORNIA HOLDINGS R'ECEIVES $309 MILliON IN FINANCING
NEWPORT BEACH, CAUF. – The
Seligman Croup has received S300 million to refinance 23 of its assets throughout California. The portfolio includes more than 1.9 million squar feet and 800 apartments.
These assets make up the bulk of the San Francisco–based firm's California holdings. It includes 12 commercial properties in Orange County and San Francisco, as well as 11 multifamily communities in Los Angeles.
Financing was secured by Jordan Ray, Ari Hirt, Gregg Applefield, Ste ven Buchwald, Jamie Matheny and Eugene Shevaldin of Mission Caclital Adyisors. The portfolio receive 23 separate loans.
The refinance allowed the Seligman Group to replace i ts existing loans, taking advantage of favorable market conditions as the finn took additional cash out.