Popular on Rezul
- Village Vapes and Cooking 4 Autism Announce Inaugural Partnership at MEGA 420 EVENT - 117
- Family Office Real Estate Institute Announces Exclusive Investment Forum - 101
- Felician Sisters of North America Announce Partnership with City of Livonia
- Fairfield Inn by Marriott Scottsdale Old Town Opens
- MAJOR New release of Krypto500 (ELF-HF) Sigint - COMINT software
- New Build-to-Suit VA Medical Office Facility Coming to Highland Heights, KY
- Baltimore Author Crafts Space Opera Where Human Questions Outshine Galactic Scale
- Thrive Cannabis Marketplace Opens New Main Street Dispensary in Las Vegas Arts District
- Think Hardwood Floors Are Just for Homes? Think Again
- Liquified Solutions a featured exhibitor at the 2025 Senior Living Executive Conference
Similar on Rezul
- Well maintained 3 bed, 2 bath home offering stunning curb appeal - for sale in Coon Rapids!
- Discover lakeside living in the Horseshoe Shores community on Long Lake in Richmond!
- Fairmint Introduces First Fully Onchain and Open Cap Table Infrastructure
- Water Willow Realty Celebrates One Year of Growth and Vision
- Aureli Construction Sets the Standard for Seamless Home Additions in Greater Boston
- Harvest Properties Acquires Two San Francisco Bay Area Self Storage Facilities for $44.2 Million
- Georgia's Traditions of Braselton to Host Spring Open House Event
- ScreenPoints Puts Film Investors in the Credits—and in the Money With New FinTech Platform
- Flexi-View Lending Closes $5.05 Million Residential Acquisition Loan in Billings, Montana
- Robert Fabbio Inducted into the Austin Technology Council Hall of Fame
StackSource Arranges $141.5 Million Capital Stack for Historic Jefferson Arms Building Conversion
Rezul News/10609062
NEW YORK - Rezul -- StackSource, a fintech platform for commercial real estate, successfully arranged financing for the redevelopment of the historic Jefferson Arms Building, located in downtown St. Louis, Missouri. The property was originally constructed in 1904 as a hotel and was later converted to apartments in 1977 before becoming fully vacant in 2006.
StackSource worked closely with Enhanced Capital, a leading impact investing firm with over 20 years of investment experience, to complete this $141.5 million financing transaction for the Dallas-based borrower, Alterra Worldwide. The financing provided by Enhanced Capital and its Impact Real Estate team includes senior debt, PACE financing, tax increment financing ("TIF"), Historic tax credit bridge debt, and the purchase of state historic tax credits. StackSource also worked closely with the sponsorship team and their relationships to secure the federal tax credits.
"Enhanced Capital is excited to work with StackSource and Alterra Worldwide to play a significant role in the financing of this transformative historic project for downtown St. Louis," said Enhanced Capital Managing Director Dusty Dickerson. "This project exemplifies how Enhanced Capital's product offerings can finance highly complex real estate projects with multiple positive impacts, including historic rehabilitations, sustainability, and housing."
Alterra plans to redevelop the historic property into a mixed-use development comprising 235 apartments, 225 hotel rooms, and 29,000 square feet of retail space. The apartments include studio, 1 bed / 1 bath, and 2 bed / 2 bath units, all to be rented at market rate. The apartments and retail portion will be completed in the first phase, while the hotel rooms, to be branded an AC Hotel by Marriott, will be delivered in Phase II of the project.
More on Rezul News
"With our financing picture now complete in partnership with StackSource, this historic project revitalizing one of St Louis' most storied buildings can now proceed," said Jose Quesada, Chief Investment Officer, of Alterra Worldwide and the lead investor on the transaction.
"Alterra's team has an inspiring vision for this historic asset in St Louis, and they are just the team to pull it off. Working with such creative clients makes our job fun," shared StackSource Senior Director Zach Wagner, who co-led the financing assignment with Senior Managing Director Beth Mercante and Associate Capital Advisor Azurdee Veigel.
StackSource launched in 2017 and began by primarily serving smaller real estate investors who were underserved by traditional commercial mortgage brokers when seeking commercial mortgages. Since then, the company has grown aggressively, expanding its capital advisory team and increasing its penetration among more sophisticated real estate investors and developers.
The StackSource team now boasts 20 Capital Advisors nationwide. Paired with its network of over 1,000 capital sources, StackSource's Capital Advisors help real estate investors nationwide gain efficient access to the capital markets helping them secure their ideal capital stack, resulting in a lower cost of capital for their investments in less time and more transparency than traditional commercial mortgage brokerage.
Real estate investors interested in working with StackSource can visit StackSource.com and click "Get financing" to see their matched capital sources within minutes.
More on Rezul News
About StackSource
StackSource is a tech-enabled commercial real estate finance platform. The company connects investors who are developing or acquiring commercial properties with financing options including banks, insurance companies, debt funds, private equity, and other alternative capital providers through a simple, transparent online process. StackSource is taking the best of commercial mortgage brokerage and updating it for the 21st century. Learn more at StackSource.com.
About Enhanced Capital
Enhanced Capital Group, LLC is a leading impact investing firm with over 20 years of experience investing in Small Business Lending, Impact Real Estate, and Climate Finance.
From inception in 1999 through September 30th, 2022, inclusive of proprietary assets and assets managed by affiliates, Enhanced Capital has raised a total of $5.3 billion. Of the total AUM, impact assets represent $3.2 billion invested in over 750 projects & businesses across 39 states, Washington DC, and Puerto Rico and does not include investments made by non-impact affiliates.
For more information on Enhanced Capital, please visit www.enhancedcapital.com.
StackSource worked closely with Enhanced Capital, a leading impact investing firm with over 20 years of investment experience, to complete this $141.5 million financing transaction for the Dallas-based borrower, Alterra Worldwide. The financing provided by Enhanced Capital and its Impact Real Estate team includes senior debt, PACE financing, tax increment financing ("TIF"), Historic tax credit bridge debt, and the purchase of state historic tax credits. StackSource also worked closely with the sponsorship team and their relationships to secure the federal tax credits.
"Enhanced Capital is excited to work with StackSource and Alterra Worldwide to play a significant role in the financing of this transformative historic project for downtown St. Louis," said Enhanced Capital Managing Director Dusty Dickerson. "This project exemplifies how Enhanced Capital's product offerings can finance highly complex real estate projects with multiple positive impacts, including historic rehabilitations, sustainability, and housing."
Alterra plans to redevelop the historic property into a mixed-use development comprising 235 apartments, 225 hotel rooms, and 29,000 square feet of retail space. The apartments include studio, 1 bed / 1 bath, and 2 bed / 2 bath units, all to be rented at market rate. The apartments and retail portion will be completed in the first phase, while the hotel rooms, to be branded an AC Hotel by Marriott, will be delivered in Phase II of the project.
More on Rezul News
- Water Willow Realty Celebrates One Year of Growth and Vision
- NBA Champion Lamar Odom Launches Anti-Addiction Meme Coin, Ushering in a Disruptive Innovation in Web3
- Aureli Construction Sets the Standard for Seamless Home Additions in Greater Boston
- Harvest Properties Acquires Two San Francisco Bay Area Self Storage Facilities for $44.2 Million
- Georgia's Traditions of Braselton to Host Spring Open House Event
"With our financing picture now complete in partnership with StackSource, this historic project revitalizing one of St Louis' most storied buildings can now proceed," said Jose Quesada, Chief Investment Officer, of Alterra Worldwide and the lead investor on the transaction.
"Alterra's team has an inspiring vision for this historic asset in St Louis, and they are just the team to pull it off. Working with such creative clients makes our job fun," shared StackSource Senior Director Zach Wagner, who co-led the financing assignment with Senior Managing Director Beth Mercante and Associate Capital Advisor Azurdee Veigel.
StackSource launched in 2017 and began by primarily serving smaller real estate investors who were underserved by traditional commercial mortgage brokers when seeking commercial mortgages. Since then, the company has grown aggressively, expanding its capital advisory team and increasing its penetration among more sophisticated real estate investors and developers.
The StackSource team now boasts 20 Capital Advisors nationwide. Paired with its network of over 1,000 capital sources, StackSource's Capital Advisors help real estate investors nationwide gain efficient access to the capital markets helping them secure their ideal capital stack, resulting in a lower cost of capital for their investments in less time and more transparency than traditional commercial mortgage brokerage.
Real estate investors interested in working with StackSource can visit StackSource.com and click "Get financing" to see their matched capital sources within minutes.
More on Rezul News
- ScreenPoints Puts Film Investors in the Credits—and in the Money With New FinTech Platform
- Pathways to Adulthood Conference May 17 at Melville Marriott Honoring NYS Assembly Member Jodi Giglio, Suffolk County Legislator Nick Caracappa
- Adster Techologies awarded US Patent for breakthrough innovation in reducing latency in Ad Serving
- Flexi-View Lending Closes $5.05 Million Residential Acquisition Loan in Billings, Montana
- Robert Fabbio Inducted into the Austin Technology Council Hall of Fame
About StackSource
StackSource is a tech-enabled commercial real estate finance platform. The company connects investors who are developing or acquiring commercial properties with financing options including banks, insurance companies, debt funds, private equity, and other alternative capital providers through a simple, transparent online process. StackSource is taking the best of commercial mortgage brokerage and updating it for the 21st century. Learn more at StackSource.com.
About Enhanced Capital
Enhanced Capital Group, LLC is a leading impact investing firm with over 20 years of experience investing in Small Business Lending, Impact Real Estate, and Climate Finance.
From inception in 1999 through September 30th, 2022, inclusive of proprietary assets and assets managed by affiliates, Enhanced Capital has raised a total of $5.3 billion. Of the total AUM, impact assets represent $3.2 billion invested in over 750 projects & businesses across 39 states, Washington DC, and Puerto Rico and does not include investments made by non-impact affiliates.
For more information on Enhanced Capital, please visit www.enhancedcapital.com.
Source: StackSource
0 Comments
Latest on Rezul News
- Fray Fitness Launches Memorial Day Sale and Veteran Organization Giveaway
- ABM for Good™ Launches First Project with Build Change
- ImagineX, in Collaboration with Qualys, Launches New mROC Services to Transform Enterprise Cyber Risk Management
- Ditch Micromanagement: New Leadership Book for Results-Driven, Accountability-Based Teams
- Jay Tapp was named Managing Director in British Columbia
- Hubei Heavy Equipment Makes a Striking Appearance at CIMT and Competes with International Brands
- 20 Patents Issued Worldwide, Cementing Company Leadership. First Ever Cable-Free 12-Lead ECG: HeartBeam, Inc. (Stock Symbol: BEAT)
- NASDAQ Uplisting for Higher Market Exposure and Wide Corporate Benefits to AI Boosted Marketing Company On Track Towards $1 Billion Revenue by 2027
- Corner Property Management Expands Portfolio with Landmark East Cooperative in Ridgefield Park, NJ
- Congressional Men's Health Caucus Shows Bipartisan Consensus and Focus on Prevention, Mental Health, and Closing the Lifespan Gap
- DuoKey, Axiomtek and Blue Edge Network Partner to Enhance Smart Cities with Privacy-Preserving Urban Safeguarding and Fleet Management
- Lakewood Ranch Office Sells for $3.425M to McLeod Land Services for Corporate HQ
- Corner Property Management Welcomes Andrew C. Batshaw as Director of Client Services
- Will McIntosh, Ph.D. Retires From Affinius Capital; Mark Fitzgerald Named Head of Research
- Austin Keen Joins WakeFX RopePal as Official Brand Ambassador
- Bonelli Systems Expands Managed IT Services Nationwide, Leveraging Microsoft Azure Expertise
- $4.3 Million Patent Application Waiver Fee Granted by FDA on New Drug Application Fee for Treatment Addressing Suicidal Depression & PTSD: NRX Pharma
- Whistleblower Claims Dental Patient Deaths Likely Due to Book Ban
- xREnergy up as much as +3,094,634% on first day listed on the XRP Ledger. Ticker : $XRE
- Psychiatry's Legacy of Racism and Coercion Highlighted in Restraint Deaths