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Capital One Bank announced that it has provided a $150 million, 10-year term loan to LeFrak to refinance its flagship office tower at 40 West 57th Street in New York City. The property is located in the Plaza District area of Manhattan, near the former Plaza Hotel and Central Park South.
The 34-story building has approximately 770,000 total square feet of space, with retail establishments on the first and second floors. The building's office space is occupied by blue-chip tenants in the financial services, clothing, fragrance, art, jewelry and cosmetics industries.
LeFrak is one of the largest private landlords in the U.S. The company is known for its involvement in projects like Gateway in Battery Park City, Queens' LeFrak City, and Newport, the $10 billion, 600-acre mixed-use community in Jersey City, New Jersey. The New York City-based company, founded more than a century ago, has an extensive real estate portfolio concentrated in the New York, Los Angeles and London metropolitan areas. The company primarily focuses on the residential and office sectors but also owns significant hotel and retail assets.
"We are excited to support a leading real estate organization like LeFrak and help them refinance this premier property," said Ben Stacks, Greater New York Market Manager, Capital One Bank Commercial Real Estate. "LeFrak has been a trusted partner to Capital One Bank and we are happy to expand our relationship with them."
"We were impressed with the Capital One Bank team's depth of market knowledge and the flexible and creative financial solution they provided," said Richard S. LeFrak, Chairman and CEO. "We look forward to working with them on future transactions."
J D Factors has provided the following factoring facilities: $200,000 to a wholesale company in Illinois; $100,000 to a transportation company in Tennessee; $2,000,000 to a transportation company in South Carolina; $200,000 to a communications company in North Carolina.; $500,000 to a transportation company in Quebec and $750,000 to a transportation company in New Jersey.
Medient Studios, Inc. announced that it has executed a $5 million credit facility with TCA Global Credit Master Fund, LP (TCA). The facility will finance development of motion pictures and also Print and Advertising costs for US domestic release of films.
"Enabling a dedicated fund for development and P&A is the next logical step as we continue to insource and realign the process of how films are produced, marketed and distributed," said Manu Kumaran, chairman & CEO of Medient. "We are thankful to TCA for believing in our vision, and providing this asset backed lending facility to the Company," he added.
Donna Silverman, portfolio manager for TCA Global Credit Master Fund commented, "Medient's vision is truly extraordinary, and we are proud to provide finance to help the Company's future growth. We look forward to a long term partnership with the Medient team."
Medient is realigning the content creation process to enable efficiencies of scale and eliminate process waste by building a fully integrated movie and game production facility and campus on a 1,550 acre property in Effingham County, Georgia. Once operational this production facility will be the largest of its kind in the United States. The studio will be breaking ground later this week.
TCA founder, Bob Press has more than 20 years of experience in the small-cap lending space, and has worked with the fund's portfolio manager Donna Silverman since 2001. The team's unparalleled level of domestic and cross-border expertise, long-standing relationships and funding innovations, reflect in the number of completed transactions. TCA provides a unique offering for investors seeking absolute, uncorrelated returns in the small cap debt universe.
Presidential Financial, a senior lender which provides working capital, asset-based lending, term debt and SBA financing, is pleased to announce a few of its recently closed transactions.
Presidential Financial provided a $4 million accounts receivable and inventory credit facility for a Florida-based manufacturer and distributor of women's golf and tennis sportswear and activewear. This 40-year old company has built a long-standing brand and was referred to us by its former lender.
Presidential Financial provided a $4 million accounts receivable credit facility for a California-based provider of behavioral healthcare and medical detox programs. The company operates a residential treatment center, a sober living facility and offers intensive outpatient services. Presidential's relationship with the capital advisory group hired by this company resulted in this new client relationship.
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NXT Capital announced that Matt Franklin has joined the company as a director of originations. Based in Atlanta, Franklin will manage NXT Capital Equipment Finance's origination efforts across the Southeastern United States. Franklin was most recently a director with CIT Group Capital Equipment Finance, where he originated equipment leases and loans for companies in numerous sectors, including manufacturing, marine, energy and distribution.
Franklin's experience includes serving as a vice president of new business development for AIG Commercial Asset Finance, as well as a vice president and director of sales for Synovus Financial Corporation. Franklin has also held positions at Transamerica Equipment Financial Services, GE Capital and American Finance Group. "We're very pleased to have Matt join the NXT Capital Equipment Finance team," said Michael Gay, group head. "Matt's expertise will be especially valuable in helping us build a market-leading platform that provides creative equipment financing solutions to middle market companies that have had difficulty obtaining essential equipment." NXT Capital Equipment Finance offers a full range of flexible financing solutions to middle-market companies nationwide. The group provides loans and leases from $2 million to $20 million to finance new and used equipment for companies with revenues of $50 million and above across most industries. Products include secured term loans, tax-oriented leases, finance leases, operating leases, TRAC leases and sale-leaseback transactions.
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TSL's July
issue is now available!
Click here to begin reading
the Women in Commercial Finance theme issue.
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Click here to view TSL's Deal Table, the industry's official list of ABL & factoring deals compiled by the Commercial Finance Association.
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Make New Friends but Keep the Old
Having been in the work world for almost two decades, my business network is a tangled web. Sometimes when a name pops up on the radar, it is difficult to place the person in the right original context. Are they from my boot camp CPA firm days? A classmate from grad school? An intern that took part in a program I organized on Wall Street? If you are involved in social networks and business groups, you have probably faced the same quandary. Though sometimes frustrating, it's really a good problem to have. Business people today spend a lot of time "networking," but by networking, they usually mean meeting NEW people. At a few trade shows last quarter, I heard more than one person lament, "this is just the same group of people over and over; I don't know why I bother coming." While it is indeed stimulating to meet new people, it is important to put as much, if not more, stock in shoring up existing relationships.
Read on...
Author: Gina Mackenzie brings more than 18 years of experience to her role as vice president of business development for Fora Financial. In her role, Gina is responsible for formulating and managing strategic partnerships. Previously, Gina served in senior business development positions for Affinion Benefits Group and DoubleRock Corporation, and formerly as a lender for Bridger Commercial Funding, CIBC World Markets and Credit Suisse First Boston. Gina earned her Bachelor's Degree of Science from Lehigh University and her Masters of Finance from New York University.
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Events Calendar
Upcoming CFA Professional Development Programs and Chapter Events. Please click here to view our entire calendar of events. Conferences/Workshops
CFA's Private Equity Connection
New York Hilton Midtown
New York, NY
Start time: 8:00 a.m.
CFA's New York
Networking EventSeptember 17, 2013
New York Hilton Midtown
New York, NY
Start time: 5:30 p.m. September 16-18, 2013 1:00 p.m. September 24-27, 2013 New York, NY September 24-26, 2013
New York, NY September 24, 2013
Winston & Strawn LLP New York, NY September 25, 2013 2:00 p.m. September 25-27, 2013 Location TBA October 6 - 9, 2013 New Delhi, India October 9-10, 2013 Chicago, IL November 13-15, 2013 JW Marriott Los Angeles at L.A. Live Los Angeles, CA
August 27, 2013
The Palm Restaurant
Charlotte, NC
August 28, 2013
August 28, 2013
Elm Fork Shooting Sports
Dallas, TX
September 4, 2013
1:30 - 5:00 p.m.
BridgeMill Tennis Club
Canton, GA
September 12, 2013
JW Marriott Atlanta Buckhead
CFA's Houston Chapter
September 17, 2013
The Belo Mansion
Dallas, TX
CFA's Carolinas Chapter
September 18, 2013
Young Professionals' Meeting
BlackFinn Saloon
"Update to the Economic Condition as it Relates to Asset Based Lending"
CFA's Houston Chapter
Private Equity Luncheon
September 18, 2013
Vic & Anthony's Steakhouse
Houston, TX
CFA Carolinas Chapter - Annual Golf Tournament
September 19, 2013
Verdict Ridge Golf & Country Club
Denver, NC
Bierhaus NYC
New York, NY
September 26, 2013
Happy Hour at 5:00 at Pete's Tavern
Game time: 7:15 p.m.
CFA's Houston Chapter and TMA Joint Networking Evening
October 9, 2013
Mo's...A Place for Steaks
Houston, TX
October 24, 2013
San Francisco, CA October 30, 2013 5:30 p.m. - 8:30 p.m. Hyatt at the Bellevue - Philadelphia
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Email your press releases, company news, and deal announcements to:
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