AGF announced the closing of a 3-year senior secured term loan with TigerBridge Holdings LLC. In connection with the transaction, AGF also received equity warrants in the company.
TigerBridge’s current portfolio of mandates includes the structuring and funding of an approximately $50M mezzanine loan to Delshah Capital for the redevelopment of 30 Morningside Drive. The project consists of the complete renovation and conversion of five historic and adjacent Beaux Arts buildings in Manhattan’s Morningside Heights neighborhood into 205 luxury rental apartments. 30 Morningside Drive is located one block south of Columbia University’s main campus, adjacent to the historic Cathedral of St John the Divine, overlooking scenic Morningside Park. The Notes are secured by TigerBridge’s interest in 30 Morningside Drive and the interests in its other investments and transactions.
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