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Brokerage
Posted: July 29, 2013
Titan Capital funds $3.5 million loan for 4,000 s/f co-op
Titan Capital ID LLC has funded a $3.5 million loan secured by a 4,000 s/f cooperative unit, valued at $17.5 million, located on the corner of Fifth Ave. and East 88th St. Due to Titan's flexible funding strategies, the borrower was able to quickly access the capital necessary to repay a short term personal loan made to him by his hedge fund. With a pending sale of the firm under way it was imperative for the borrower to shore up the company's financials in order to effectuate the sale.
The pending sale of the firm as well as royalties from the borrower's other investments are expected to provide over $100 million in future cash flows and will be used for repayment of the loan. Once again, Titan was able to satisfy the personal debts of its borrower while securing a loan on prime Manhattan real estate.
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