Alexander Realty Capital Inc.

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120-room Four Seasons Hotel, with 19 condominiums, 22 fractionals, and a spa. $190,000,000 cost, $260,000,000 sell out. We worked with Whitestone Capital and also brought in the co-developer. Anticipated closing June 2006.158 unit 20-story condominium in downtown Miami. We arranged the $35 million construction financing and a $3.6 million mezzanine loan. Term sheet issued, anticipated closing May 2006.In the rapid-paced world of commercial real estate, high loan-to-value loans from traditional lenders are harder to obtain. To bridge a GAP between traditional loans (senior debt) with low advance rates, the increasing answer may be mezzanine financing.

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