NRF » Topics » Green Pond Mortgage

This excerpt taken from the NRF 10-Q filed Nov 9, 2006.

Green Pond Mortgage

In connection with the acquisition of the Green Pond Property located in Rockaway, New Jersey, the Company entered into a loan agreement with a major commercial bank for non-recourse, first mortgage in the principal amount of $17.5 million. This mortgage matures on April 11, 2016 and bears interest at a fixed rate of 5.68%. The mortgage requires interest only payments through April 2008, and the mortgage will require monthly principal and interest payments of $101,233 thereafter, amortizing the principal balance to $15.4 million at maturity.

This excerpt taken from the NRF 10-Q filed Aug 9, 2006.

Green Pond Mortgage

In connection with the acquisition of the Green Pond Property located in Rockaway, New Jersey, the Company entered into a loan agreement with a major commercial bank for a non-recourse, first mortgage in the principal amount of $17.5 million. This mortgage matures on April 11, 2016 and bears interest at a fixed rate of 5.68%. The mortgage requires interest only payments through April 11, 2008. Commencing on May 11, 2008, the mortgage will require monthly principal and interest payments in the amount of $101,233, amortizing the principal balance to $15.4 million at maturity.



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NORTHSTAR REALTY FINANCE CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

8. Borrowings – (continued)

This excerpt taken from the NRF 10-Q filed May 10, 2006.

Green Pond Mortgage

In connection with the acquisition of the Green Pond Property located in Rockaway, New Jersey, the Company entered into a loan agreement with a major commercial bank for a non-recourse mortgage in the principal amount of $17.5 million. This mortgage matures on April 11, 2016 and bears interest at a fixed rate of 5.68%. The mortgage requires interest only payments through April 11, 2008. Commencing on May 11, 2008, the mortgage will require monthly principal and interest payments in the amount of $101,233, amortizing the principal balance to $15.4 million at maturity.

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