NewStar Financial Closes $34,150,000 Loan on Northwest Plaza in Rosemont, Illinois
Draper and Kramer, Incorporated Advises Fulcrum Asset Advisors
Boston, MA January 9, 2008 NewStar Financial, Inc. (NASDAQ:NEWS), a Boston-based specialty finance company, announces it has provided $34,150,000 in non-recourse, first mortgage loan financing on Northwest Plaza. The 328,000 square foot property is located in Rosemont, Illinois and consists of two eight-story office buildings with a retail concourse. The borrower is Fulcrum NWP, LLC, a single-asset entity managed by Fulcrum Asset Advisors ("Fulcrum"). Fulcrum is a privately held real estate investment and operating company, run by a highly experienced team which has acquired, advised and successfully positioned numerous properties since its formation in 2001. Draper and Kramer, Incorporated of Chicago acted as the exclusive financial advisor to the borrower. The NewStar loan refinances existing debt on the property and provides additional capital to continue the leasing strategy and complete the addition of a TGI Friday's restaurant on a pad site. Fulcrum sought a lender who would be comfortable with the leasing risk and who would structure a loan to fund the additional capital necessary to complete the pad work, as well as to lease the remaining vacant space. The facility was structured with a 3-year term and two one-year extension options. NewStar provided flexible prepayment ability to allow the borrower to refinance the property upon stabilization. Chrissy Wojcik, Director of Commercial Real Estate at NewStar Financial said, "We feel both Fulcrum Asset Advisors and Draper and Kramer are top firms with great depth of experience and reputation in the market. We appreciate the opportunity to provide the financing, and are pleased that our first loan in the Chicago area could be done in partnership with them." NewStar's deal team for the transaction included Chrissy Wojcik, Zibby Shiver, Jake Clapton, Scott McIsaac and Erica Salkow. Draper and Kramer will provide loan servicing for NewStar.About NewStar Financial, Inc.:
NewStar Financial (NASDAQ:NEWS) is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. The Company specializes in providing senior secured debt financing for the acquisition or recapitalization of mid-sized companies and commercial real estate. NewStar originates loans directly through a team of experienced, senior bankers organized around key industry and market segments. The Company targets 'hold' positions of up to $20 million and selectively underwrites or arranges larger transactions for syndication to other lenders. Newstar is headquartered in Boston MA and has regional offices in Darien CT, Chicago IL, San Francisco CA, San Diego CA, and Charleston SC. For more detailed transaction and contact information, please
visit our website at www.newstarfin.com
Anne G. Bork
You are leaving the NewStar website and will be redirected to the U.S. Bank Trust Gateway Portal, where you will be required to provide a username and password to access CLO information relevant to your investment.