ASSIGNMENT

 

Hodes Weill Securities, LLC acted as financial advisor to an affiliate of the Gotham Organization to assist in sourcing equity capital for the Gotham West development project (the “Project”), located in the Midtown West area of Manhattan, New York. The Project was situated on a 4-acre, fully-entitled site and included constructing 1,200+ residential rental units, approximately 15,000 square feet of retail space and a 200-space parking garage. The residential units are comprised of 45% market rate housing, 35% workforce housing and 20% low income housing.

The Project cost of approximately US$525 million was financed primarily with tax-exempt bonds issued through the New York State Housing Finance Agency enhanced by letters of credit. Hodes Weill was engaged to assist with sourcing capital for the equity component of the credit enhancement from an investor with a long term ownership perspective.

 

OUTCOME/RESULTS

After outreach and discussions with multiple institutional investors, Gotham reached an agreement with an investor for the target equity amount at favorable terms.

PRIVATE PLACEMENT

GOTHAM ORGANIZATION, INC.

US $190 Million

COMPLETED 2011

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All U.S. regulated capital market and securities advisory services are provided by Hodes Weill Securities, LLC, a registered broker-dealer with the SEC, and a member of FINRA and SIPC, and internationally, by non-U.S. Hodes Weill affiliates.