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Hypo Real Estate Capital Corporation provides $60 million in financing for acquisition and renovation of Fifth Avenue property Hypo Real Estate Capital Corporation (“HRECC”) – the New York-based subsidiary of Hypo Real Estate Bank International and one of the leading financial institutions in the United States commercial real estate industry – has announced that the Company is providing $60 million in financing to 1200 Fifth Associates LLC for the acquisition and renovation of 1200 Fifth Avenue in New York City. 1200 Associates LLC is a partnership venture between Meyer Chetrit and Joseph Nakash. Designed in 1928 by world-renowned designer Emery Roth, the 17-story, 121,590-square-feet residential building contains 59 apartments and two ground-floor professional spaces. After 76 years, the building’s original design remains intact including the lobby with fireplace, marble walls, terrazzo flooring, a stained glass picture window and two separate elevator banks as well as hardwood floors and original fireplaces in all the apartments. “This transaction is just another example of Hypo’s commitment to funding sound deals in New York City,” said Evan F. Denner, head of real estate finance, Hypo Real Estate Capital Corporation. Notes to editors: About Hypo Real Estate Capital Corporation Hypo Real Estate Capital Corporation, a subsidiary of Hypo Real Estate Bank International, is one of the leading lenders in the United States commercial real estate marketplace. Hypo Real Estate Capital provides innovative financial solutions for a prestigious client base throughout the U.S. Over the last five years the firm has closed more than $18 billion in construction, fixed rate, floating rate and mezzanine loans. Headquartered in New York, Hypo Real Estate Capital is active in all markets across the U.S. About Hypo Real Estate Bank International Hypo Real Estate Bank International based in Dublin, Ireland, is part of the Hypo Real Estate Group (HREG). The corporate group – which is the result of HVB Group spinning off its commercial real estates activities – comprises the non-operational, listed holding company, Hypo Real Estate Holding AG headquartered in Munich alongside three operational units: Besides Hypo Real Estate Bank International these are Stuttgart-based Württembergische Hypothekenbank AG (WürttHyp) and Munich-based Hypo Real Estate Bank AG. Hypo Real Estate Group is one of Europe’s largest providers of commercial real estate finance. Kontaktinformationen: Hypo Real Estate Group Oliver Gruss Phone: +49 (0) 89 203007 781 Fax: +49 (0) 89 203007 772 E-mail: oliver.gruss@hyporealestate.com
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