PORTFOLIO: FUND II
Mezzanine bridge loan to 22,000 sm residential and retail development project on Prager Carree in Dresden
Prager Carrée involves an equity bridge loan made by ASG’s Fund II to Revitalis to develop a prime residential and retail location in Dresden. Revitalis needed the additional capital in order to acquire the site from the City of Dresden before beginning construction of the project in early 2014.
A simple, straightforward financing package coupled with ASG’s ability to close quickly secured the transaction and a forward sale minimized loan repayment risk. Revitalis repaid the principal on the loan as agreed within one year once the forward sale was completed.