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We're higher than a senior loan, but a senior loan has the building as collateral.
Seven of the buildings are finished, and the group has been using each completed building as collateral to secure a loan and replenish its capital for the next.
Using the building as collateral, they took out a loan to pay off $23 million in debt from Republic Windows, and then in 2006 sold the building for $31.5 million to the William Wrigley Jr. Company.
The legal term technically referred to the city's possession of a building as collateral against a tax-delinquent owner, but soon became shorthand for the city's entire housing policy.
Even if the co-op could persuade a lender to take only the building as collateral, Mr. Kucker said, some ground leases require the co-op to get the property owner's permission to do so.
This method kept the college solvent in the short term, but in order to remain afloat the Trustees decided to borrow money using the University property and building as collateral.
Similar(54)
One option would be to use some of the company's buildings as collateral.
He is only at Mexico City's spectacular Day of the Dead parade to chase down a suspect, with a few historic buildings as collateral damage (careful, Bond, it is an emerging market!).
Japanese banks went on a lending spree, expanding their loan portfolios by $3.6 trillion -- a figure equivalent to 72percentt of the entire Japanese economy -- and in many cases taking buildings as collateral.
The recent approximately $1 billion bond offering for Londons Canary Wharf, which used the building leases as collateral, shows that international real estate markets are heading in the same direction.
Due to financial mismanagement which included his Safari hunting hobby, in July 1912, Gorodetsky pledged the building as a collateral against a loan taken from Kiev Mutual Credit Association.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com