Deal: Seeking Bridge Loan for a US project

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We have acquired a commitment for the $400M loan which will take about 100 days due to banking protocols. We have these buildings ‘under contract’ [with‘paid’ earnest money deposits] and we can now engage with a bridge lender for $50M with a guaranteed exit strategy. With this $50M loan we would ‘buy the buildings’; hence lender collateral will the ‘6 buildings’ and all rent rolls. We will exitthis lender in 180 days (or less). The CPPT Project is a 100 story mixed-use residential high-rise and indoor shopping mall in downtown Chicago. This downtown block ‘now’ has ‘5’ residential building and a parking structure; which will be removed. All studies have been completed within city regulations, etal. Job Benefits • This project will create over 3,000 construction related jobs during 3 year build out and over 350 permanent jobs. Cost • The total project cost is $400,000,000.00. We have a committed construction loan from a qualified company. New Solar & Off-Grid Technology • CPPT will have 1.14 million sq. ft. of solar panels along with solar heating tubes within the parking structure. With these and the latest BLOOM ENERGY ES-5000’s the CPPT can deliver clean power in parallel with the utility grid and the CPPT will produce 95% of the energy it consumes. We have voluminous data, city support, a superb team and have acquired construction financing.
United States