The credit line will be utilized solely for the purpose ofacquiring real estate. Already Bresler & Reiner has spotted twoparcels in Ocean City, MD that it plans to acquire. It will take$1.8 million of the $30 million credit line to purchase the land,which will become home to a condominium project B&R is planningwith an equity partner. According to a May 14 SEC filing coveringfirst quarter results, Bresler & Reiner had invested nearly $8million during the period from January 1 through March 31, 2004 onthe purchase of property and land held for development.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Capital Markets
Multifamily
Washington, DC