Commercial Property News - March 02, 2006
The Norseman Group, in conjunction with RVI Group, used its new product, the Zero Tenant Note, or ZTN, for the first time yesterday. The transaction was a $2.3 million ZTN on six Best Buy properties owned by a large portfolio owner of single tenant properties. The new product is a mezzanine loan written on top of single tenant properties that are not generating current cash flow, and is encumbered by long-term, fully liquidating long-term credit tenant lease mortgage debt.
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Saturday, March 04, 2006
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