News
First Fidelity Arranges $220,000,000 A-Note for Construction Loan led by CW Capital on 1,200-room Manhattan Hotel Portfolio
9/8/2008
The First Fidelity Companies is pleased to announce the arrangement of a $220,000,000 A-note as part of a $340,000,000 construction loan facility led by CW Capital. The A-note portion of the construction loan was placed with a major U.S. bank. CW Capital originated the loan on behalf of a client to capitalize the construction of three separate hotels in
First Fidelity concluded this placement on behalf of CW Capital (www.cwcapital.com), a leading, national full-service lender to the multifamily and commercial real estate industries. With approximately 320 employees located in 13 offices nationwide, the company closed approximately $3 billion of loans in 2007. CWCapital currently services over $9 billion of loans in 47 states and, through CWCapital Investments and CWCapital Asset Management, controls special servicing and subordinate CMBS on over $180 billion of multifamily and commercial loans representing approximately 14,500 mortgages. The company generally services all loans that it originates as well as loans for institutional investors. Cadim, a Montreal-based real estate advisor and portfolio manager, holds a majority interest in CWCapital Investments and CWCapital. Cadim is a subsidiary of the Caisse de dépôt et placement du Québec, the leading institutional fund manager in
The First Fidelity Companies (www.firstfidelitycompanies.com) is a privately held, independent real estate investment banking firm that has been a leader in commercial real estate for over 40 years. Established in 1967, First Fidelity specializes in the placement of debt and equity capital, investment brokerage, advisory services, and loan administration on behalf of owners and developers of income producing property. The firm is active throughout North America and the
