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Article: W&M Capital Funds structures $7m deal.(Wien & Malkin Strategic Capital Funds II and III)
- Article from:
- Real Estate Weekly
- Article date:
- November 9, 2005
CopyrightCOPYRIGHT 2005 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In another demonstration of creativity, flexibility and speed in meeting the special capital needs of real estate entrepreneurs, Wien & Malkin Strategic Capital Funds II and III have created a unique structure to provide $7.3 million of financing to the owner of an unusual office and marina complex in the Twirl Cities suburb of Wayzata, Minn.
The four-year investment is initially structured as a loan, which converts during the first 18 months to preferred-equity. Initiated and closed within one month, the transaction includes an option for the property owner to extend the preferred-equity investment for an additional five years.
The Wayzata Boat Works ...