Nassau, Bahamas – Miami-based Primrose Capital has successfully arranged bridge financing for the Courtyard Marriott in Nassau Bahamas.
Primrose Capital worked on behalf of NBVI612 Holdings, LLC to secure the three-year floating rate loan from a Goldman Sachs through one its separate accounts.
Joshua Emory, a Principal at Primrose Capital commented “We are very excited to have recapitalized the property given the challenging financing market in the Bahamas. The new financing allowed the sponsor to reduce its cost of capital and continue stabilizing the asset. Goldman was instrumental in getting up to speed on the property's history and potential, thereby creatively being able to offer a structure which worked for the borrower. ”
Primrose Capital, LLC is a fully integrated real estate capital advisory firm with offices in Miami, New York and Los Angeles, specialized in the placement of debt financing and joint venture equity for leading real estate institutions, developers and property owners throughout North America. As a trusted advisor, Primrose Capital is an expert at structuring custom tailored financing solutions for some of the most complex commercial real estate transactions.
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