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NewStar Financial Closes $13,571,000 Loan On Franklin Lofts In Houston

NewStar assists Live Oak Capital to arrange loan for Garvey Builders

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Boston, MA, March 31, 2005 - NewStar Financial, Inc. ("NewStar"), a Boston-based commercial finance company, announces that it has provided $13,571,000 in non-recourse, first mortgage loan financing on Franklin Lofts, a mixed-use project in the central business district of Houston. The property was developed and is owned by an affiliate of Garvey Builders.



The NewStar loan refinanced the property's existing construction loan and provided additional capital for further renovation and operating capabilities. Jon Gilfillan of Live Oak Capital acted as exclusive financial advisor to the borrower and will service the loan on behalf of NewStar.



"We are delighted to be part of the growth of the downtown real estate market in Houston," said Tim Conway, Chief Executive Officer of NewStar. "This project is the latest example of NewStar designing and delivering a capital solution to meet the needs of a client in a timely manner."



The 8-story project includes 62 loft-style condominium units, a 36,000 square-foot events venue, a 256 space parking garage and 11,000 square-feet of retail space. At the time of the closing, 32 of the residential condominium units had been sold. The events venue, called the Corinthian, is leased to and operated by an affiliate of ARAMARK Corporation. The property's retail space continues to lease, with a significant portion of the space currently occupied.



NewStar's deal team for the transaction included Dan Adkinson, Tristan Pierce and Gabriel Pozo.



About NewStar Financial, Inc.:



NewStar Financial, Inc. was formed in June 2004 by a group of senior banking and capital markets executives from leading financial institutions, including FleetBoston Financial, Citigroup and JP Morgan Chase, and leading institutional investors including Capital Z Partners, JP Morgan Corsair Capital Partners and Och-Ziff Capital Management Group. NewStar is focused exclusively on providing customized financing solutions to mid-sized borrowers in three lending groups: Middle Market Corporate, Commercial Real Estate, and Structured Products. For more information, please contact the appropriate individual below.



Corporate Inquiries:
NewStar Financial
Scott Poirier
(617) 848-2525


Press-Related Inquiries:
Gaffney Bennett Public Relations
Chris Riley
(860) 690-0856


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