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Real Estate Finance & Investment: Savanna Originates Loan on Class-B Office Building
07/09/2008 - Savanna has originated a $45.75 million loan on 63 West 38th Street, a midtown Manhattan office building. The New York-based fund manager, which until recently focused more on buying properties, made the loan as part of its push to fill the void that has been created as a result of the credit crunch, said Nicholas Beinstock, managing partner. “We see opportunities to make great loans on the same types of real estate assets that we typically buy, own and operate for our own account,” he added. Read article »
CPN: Savanna JV Issues $46M Loan on Manhattan Office Building
06/27/2008 - Savanna, a New York City-based investment and development fund, and a News York City-based hedge fund have originated a $46 million full-recourse senior loan on a 150,622-square-foot office building at 63 West 38th Street in Manhattan. Read article »
CoStar Group: Savanna Invests in DC Market Debt
06/26/2008 - Savanna, a New York City-based real estate investment and development fund, acquired the $157.7 million C-Note on the senior mortgage of a 1.4 million-square-foot Rosslyn, VA, Class A office portfolio. Savanna purchased the note at a substantial discount to par value from a New York City-based investment bank that was motivated to move the assets off of its balance sheet. Read article »
Globe Street: Rossyln Portfolio C-Note Moves at Discount
06/17/2008 - ROSSLYN, VA-A New York City-based real estate investment and development fund has acquired a $157.7 million C-Note on the senior mortgage of a 1.4-million-sf class A office portfolio here owned by Monday Properties. The firm, Savanna, purchased the note at a substantial discount to par value from a Wall Street investment bank that wanted to move the assets off of its balance sheet. Read article »
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