MORTGAGE EQUICAP ARRANGES $13 MILLION FOR TRIBECA CONDO CONVERSION

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NEW YORK CITY — Mortgage Equicap has arranged a $13 million bridge loan and preferred equity investment for a condominium project in Manhattan's Tribeca neighborhood. The financing is being used to facilitate the conversion of a 30,000-square-foot rental building into luxury condominiums. The borrower and lender's names were not released.

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