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Mag Capital Partners has acquired a pie manufacturing facility in Rochester, New York. The transaction includes a 20-year leaseback of the 42,700-square-foot facility located at 155 Balta Dr. to current tenant SatisPie.
The Chicago-based firm also announced that CEO Brett White, CFO Duncan Palmer, COO Michelle MacKay and president John Forrester will forgo a large percentage of their base salaries.
Real estate stakeholders are on the sidelines trying to forecast just how much economic damage has been done, with many having their eyes toward the flood of forbearance requests mortgage servicers are fielding.
New Jersey Community Capital, UCEDC, Regional Business Assistance Corporate, Cooperative Business Assistance Corporation, Greater Newark Enterprise Corporation (GNAC) and 1st Bergen Federal Credit Union will be participating in the authority's new CDFI Emergency Loan Loss Reserve Fund.
The principals at George Smith Partners knew that there would be very few deals at that juncture, so it was critical to their survival to be positioned as one the few capital market advisers that were still doing deals.