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Houlihan arranged a loan secured by a first mortgage in the amount of $1,500,000 encumbering a property located at 15 Beach Road in Great Neck, NY, improved with a 3-story brick walk-up garden-style Cooperative apartment building constructed in 1950.
Disregarding the note, the basis of the contributed assets was less than the amount of the liability encumbering them.
Would the dancing look as unique without the antique lines of Gianni Versace's sometimes encumbering gowns for the women and the umpteen lighting changes by Jennifer Tipton?
PK) to take advantage of oil and gas production opportunities without risking and/or otherwise encumbering the assets of the public company.
The refinancing of a $2,200,000 first mortgage loan encumbering a one-story brick retail building at 143-151 Sherman Ave, aka 593-597 Academy Street, in New York.
The co-owners may authorize the manager to maintain a common bank account to deposit rents and pay expenses, prepare statements, obtain insurance and negotiate modifications to the terms of any debt encumbering the property (subject to the owners' approval).
Proceeds of the loan were utilized to (i) repay the existing first mortgage loan encumbering the Property in the principal amount of $75.
The refinancing retired the existing low leverage, high coupon, traditional loan encumbering the property," said Arthur Adler, managing director and CEO for Jones Lang LaSalle Hotels.
The denominator is the excess of the property's FMV over any qualified liability encumbering or property allocable to the property.
Post, through a Section 1031 exchange intermediary, sold the community for a gross sales price of approximately $118 million, including approximately $40 million of secured debt encumbering the property.