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 Overview LMS-Patson Portfolio The Nokia Buildings Union Bank Plaza Vornado - Patson JV Entity The Metropolis Edgewater at Ocean Galleria Corporate Centre |
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EDGEWATER AT OCEAN
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A joint venture entity consisting of James Ratkovich & Associates and its capital partners acquired the rights and entitlements of a site located at the southeast corner of Pine Avenue and Ocean Boulevard. |
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Ratkovich plans to develop a luxury condominium project, consisting of 155-residential units, ground floor restaurant and retail space in a 22-story tower, including partial subterranean parking with its main entrance off Pine Avenue. |
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Arranged for Lehman Brothers to provide James Ratkovich & Associates with bridge financing to acquire the site. |
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Lehman subsequently took a 50% equity interest in the project and retains an option to provide mezzanine financing up to 90% of the project capitalization. |
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