Oceanside, NY The project finance division professionals of Roosevelt & Cross have arranged and closed a $4.9 million financing for the Barry and Florence Friedberg Jewish Community Center (JCC.) The JCC utilized the proceeds of the facilities to (i) refinance certain indebtedness related to the borrower’s community center and to (ii) establish a working capital line of credit.
When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.