ZarVic primarily originates, invests in, acquires and manages performing commercial real estate mortgage loans, subordinate financing, bridge loans, and other commercial real estate-related debt investments throughout the U.S.
Online, February 26, 2014 (Newswire.com) - ZarVic has recently funding $22.5 million mezzanine loan secured by a first mortgage loan and a pledge of the equity interest as well as a short term bridge loan, in a borrower that owns a small portfolio of commercial retail and mixed-use property The mezzanine loan is part of a $62.8 million floating rate loan comprised of an $40.3 million mortgage loan and ZarVic's $22.5 million mezzanine loan. The mezzanine loan has a three-year term subject to certain conditions. ZarVic's loan basis represents an appraised loan-to-value of 50%.
Forward-Looking Statements
Certain statements contained in this release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control. These forward-looking statements include information about possible or assumed future results of the Company's business, financial condition, liquidity, results of operations, plans and objectives. When used in this release, the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions, are intended to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: the anticipated timing of the repayment of investments; the return on equity; the yield on investments; the ability to borrow to finance assets; the Company's ability to deploy the proceeds of its capital raises or acquire its target assets; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements, and other risks, uncertainties and factors are based on the Company's beliefs, assumptions and expectations of its future performance, taking into account all information currently available to the Company. Forward-looking statements are not predictions of future events. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contact:
ZarVic Brothers
Chris Stein
914-244-9776
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