Tight Money Reaches Lenders As Developers Face Participation
Lenders led by insurance firms push equity participation in financing new office, industrial, and apartment projects. Developers may surrender part ownership or income to obtain funds, with returns tied to rents and project performance. Industry leaders say the trend shifts leverage toward lenders while signaling higher future rents.
MENTIONED IN THIS ARTICLE
Lea Tonkin
Michael Luby
Republic Realty Mortgage Corp
O’hare
Richard Rauch
Seay & Thomas
Marriott Motor Hotel
O’hare Airport
Rauch
Frank M. Fleck
Great Lakes Mortgage Corp
Fleck
Dominic Cannon
Winston Development Corp
Palatine
Willow Creek
Howard Krafsur
Marshall Bennett
Bennett & Kahnweiler
Centex
Elk Grove Village
Phil Faulkner
New York Life Insurance Co
Faulkner
Steve Cohn
Greenebaum Mortgage Co
Lamplighter
Connecticut Mutual Life Insurance Co
William Curto
Northwestern Mutual Life Insurance Co
Oak Brook
Old Orchard
River Oaks
Curto
Also Mentioned on This Page
Schaumburg
Illinois
William J. Sladek
Home Builders Association of Chicagoland
3H Building and Development Co
Rolling Meadows
H. Myles Gordon
Paddock Publications
Joseph Corona
Make
S. Main
Mt. Prospect
Bill Cook
le Sabres
Electras
Rivieras
Riviera
Wildcat
Oldsmobile
White