CFA Capital Partners 'CFA' Closes $8 Million Mezzanine Loan on Palm Beach Class A Office Property in 6 Business Days
RYE, N.Y. (Business Wire EON) January 2, 2008 -- When a leading south Florida developer needed a bridge to construction on a resort property in Palm Beach, CFA was there to meet the need. CFA used a mezzanine loan on one of the assets in the developer's portfolio as collateral for the transaction. Banks that were willing to offer financing quoted a timeline in terms of months - delays that would have derailed the project. CFA reacted quickly to the opportunity, and provided financing in only 6 business days.
"The Palm Beach area is still a great area for commercial real estate", said John Clancy, Managing Partner at CFA. "Often transactions such as these require innovative solutions with multiple assets. Traditional banks of other lenders are not always able to meet the needs of borrowers, and we're glad to be able to take advantage of this niche".
CFA is no stranger to the market, having financed the upscale Heart of Palm Hotel in Palm Beach in 2006. It was this experience that allowed CFA to navigate a deal that required speed as well as flexibility.
One crucial aspect to the deal, as well as the CFA's ability to fund in record time, is the speed and efficiency of CFA's streamlined back office, which uses server and CMS overlays to allow real-time collaboration between associates, analysts, underwriting, management, and in-house legal.
"With some of the new technology that we've been able to put into place, we've cut our processing time nearly in half." said Raphael Copeland, Chief Technology Officer at CFA Capital Partners. "We're a smaller shop that relies on efficient coordination of moving parts, and this is a key component of our competitive advantage. We aim to continue to utilize new technologies, some of them proprietary, to help grow this company for the future."
As a company that has proven itself with a multitude of successful deals, CFA has built a strong reputation for managing complex financial transactions, acquisitions, and recapitalizations with its innovative bridge, permanent and mezzanine programs. CFA has successfully funded projects such as multifamily developments, hotels, office buildings, medical facilities, and retail.
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