Mesirow Financial announced that it has successfully structured and arranged Credit Tenant Lease (“CTL”) construction-to-permanent financing in the amount of approximately $76,777,000 for the development of a soon to-be-built U.S. Department of Veterans Affairs clinic in the Commonwealth of Puerto Rico.
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CHICAGO, April 18, 2019 /PRNewswire/ -- Mesirow Financial announced that it has successfully structured and arranged Credit Tenant Lease (“CTL”) construction-to-permanent financing in the amount of approximately $76,777,000 for the development of a soon to-be-built U.S. Department of Veterans Affairs clinic in the Commonwealth of Puerto Rico. The U.S. Department of Veterans Affairs engaged in a public-private partnership (“P3") with local developer, AJM Management LLC (“AJM”), a division of Arbona Group, to deliver what will be a 134,000 square foot build-to-suit outpatient medical clinic. Upon completion, the facility will be located on a 22-acre parcel of land in Ponce, Puerto Rico. RiskOne Group (“RiskOne”) served as an advisor to AJM on the transaction and assisted with the government application, selection and financing process. Joaquin Arbona, president of AJM, commented on the transaction, “At Arbona Group we take pride in what we do, and we are delighted to be able to work with such an adept group of professionals.” “We were honored to have participated in this P3 transaction with the U.S. Department of Veterans Affairs, AJM and RiskOne,” said Andrew Minkus, managing director of Mesirow Financial’s CTL Finance and Structured Debt Products group. David Fishler, senior vice president of Mesirow Financial’s CTL and Structured Debt Products group added, “Once construction on this project is complete, local veterans will have the benefit of a newly built, state-of- the-art clinic. We are proud to be responsible for delivering this facility and the quality care it will provide to veterans who have bravely served our country.” “This transaction signifies the strength of our CTL Finance and Structured Debt Products business and Mesirow’s growing government infrastructure initiative,” said Stephen Jacobson, senior managing director and head of Mesirow Financial’s CTL Finance and Structured Debt Products group. Mesirow Financial’s Credit Tenant Lease Finance and Structured Debt Products group offers clients seeking high leverage, credit-backed financing a unique suite of services including potential access to Mesirow’s balance sheet in order to enhance execution certainty with a variety of structured debt and mezzanine solutions. About Mesirow Financial About Arbona Group/AJM Management LLC About RiskOne Group CONTACT: Michael Herley
SOURCE Mesirow Financial |
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