Robert Morel.
Wednesday, November 1 2000
Published on AllBusiness.com
Robert Morel, director of financial services and co-founder of City One Real Estate and Financing has completed a $1,580,000 triple tax-exempt bond private placement with the New York City Industrial Development Agency. The financing was arranged for THR Products Corporation, a custom manufacturer of architectural cast stone and GFR products. THR is acquiring a 16,000 SF building located at 592 Johnson Ave. in Brooklyn.
Morel secured 100% financing for the building's acquisition, renovation, and equipment purchase. As part of this financing, Morel will also arrange a 30% electricity discount for ten years. This 25-year mortgage will have an interest rate of 8% per annum.
