Mezzanine Land Financing
Sherwood contributed roughly $9m of mezzanine acquisition financing for Domain Companies’ acquisition of 414 & 445 Gerard Avenue in Mott Haven, Bronx. On this deal the senior and mezzanine loans together represented 78% of the site’s purchase price. The site will be developed into a mixed-income residential project and the loan is structured to bridge the acquisition and the issuance of tax-exempt bond financing.
South Bronx Land