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Question
Required Equity
Greentree Park is a 10 building office park outside of Cleveland, Ohio. The property is valued at $100 million. Bankers have proposed a first mortgage with an LTV of 55%. A financial services firm has offered a mezzanine loan to take the property up to a 75% LTV. How much equity will be required from the owners in order to complete the purchase.
Answer
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Related questions
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General
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