Trending...
- Cancer Survivor Roslyn Franken Marks 30-Year Milestone with Empowering Gift for Women Survivors
- Probate Shepherd® Announces a New Member Probate Attorney in Conroe, TX
- Naperville Seeks Community Input to Update Bicycle and Pedestrian Plan
CHICAGO--(BUSINESS WIRE)--Monroe Capital LLC ("Monroe") today announced its Opportunistic Private Credit group closed on a $50.75 million mortgage loan to Tricera Capital for the construction and redevelopment of a mixed-use project, The Press, in West Palm Beach.
Located on more than 11 acres at 2751 S. Dixie Hwy. at the Palm Beach Post campus, The Press is an adaptive re-use project in which nearly all existing structures are being preserved. It includes a 125,000-square-foot retail component - Shops at the Press – and an adjacent 140,000-square-foot office building branded as Workspaces at the Press.
"We are thrilled to complete this transaction and appreciative of Monroe Capital's belief in our firm's most ambitious project to date," said Scott Sherman, Principal at Tricera Capital. "The tenant mix is coming together nicely, with retailers that will complement the office tenants next door and surrounding neighborhood. The Press is poised to reinvigorate the Dixie Highway corridor."
More on illi News
"We are excited to partner with Scott, Ben and the Tricera team on this asset. This represents Monroe's continued interest and appreciation of opportunities in the South Florida real estate market," said Kyle Asher, Co-Head of Monroe Capital's Opportunistic Private Credit Group. "Monroe continues to establish and grow its real estate business. While many competitors were impacted by COVID, we identified opportunities and closed our seventh real estate transaction in the last 12 months."
This transaction is representative of Monroe Capital's Real Estate Finance vertical within the Opportunistic Private Credit group. The vertical focuses on complex and special situation structured debt and equity financings covering all asset types and geographies. The team has a broad investment mandate, flexible capital and prides itself not only on its "bottoms up" real estate expertise but also on its ability to move quickly and efficiently and provide certainty of execution. For over 17 years, the firm has been investing in asset-backed transactions with attractive collateral, as well as cash flow and enterprise value based loans.
More on illi News
About Monroe Capital
Monroe Capital LLC ("Monroe") is a premier boutique asset management firm specializing in private credit markets across various strategies, including direct lending, asset-based lending, specialty finance, opportunistic and structured credit, and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe's platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality "alpha" returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, New York, and San Francisco.
Monroe has been recognized by both its peers and investors with various awards including Private Debt Investor as the 2020 Lower Mid-Market Lender of the Year, 2020 Lender of the Year, and 2020 CLO Manager of the Year, Americas; Creditflux as the 2020 Best U.S. Direct Lending Fund; Pension Bridge as the 2020 Private Credit Strategy of the Year; and Global M&A Network as the 2020 Small Middle Markets Lender of the Year. For more information, please visit www.monroecap.com.
Located on more than 11 acres at 2751 S. Dixie Hwy. at the Palm Beach Post campus, The Press is an adaptive re-use project in which nearly all existing structures are being preserved. It includes a 125,000-square-foot retail component - Shops at the Press – and an adjacent 140,000-square-foot office building branded as Workspaces at the Press.
"We are thrilled to complete this transaction and appreciative of Monroe Capital's belief in our firm's most ambitious project to date," said Scott Sherman, Principal at Tricera Capital. "The tenant mix is coming together nicely, with retailers that will complement the office tenants next door and surrounding neighborhood. The Press is poised to reinvigorate the Dixie Highway corridor."
More on illi News
- Multi-Signature Cold Storage: Keyanb Introduces Institutional-Grade Asset Protection for Chilean Crypto Traders
- NKSCX Introduces Zero-Knowledge Proof of Solvency for U.S. Traders Amid $6.5 Billion Fraud Crisis
- New Oasis International Foundation Announces Strategic Partnership Network Across 15 Countries to Advance Community-Led Economic Development
- A Gift for You: Music, Story, and Hope for America: Free Download of The Human Renaissance Album
- New You Smile Dental Implant Center Expands Office
"We are excited to partner with Scott, Ben and the Tricera team on this asset. This represents Monroe's continued interest and appreciation of opportunities in the South Florida real estate market," said Kyle Asher, Co-Head of Monroe Capital's Opportunistic Private Credit Group. "Monroe continues to establish and grow its real estate business. While many competitors were impacted by COVID, we identified opportunities and closed our seventh real estate transaction in the last 12 months."
This transaction is representative of Monroe Capital's Real Estate Finance vertical within the Opportunistic Private Credit group. The vertical focuses on complex and special situation structured debt and equity financings covering all asset types and geographies. The team has a broad investment mandate, flexible capital and prides itself not only on its "bottoms up" real estate expertise but also on its ability to move quickly and efficiently and provide certainty of execution. For over 17 years, the firm has been investing in asset-backed transactions with attractive collateral, as well as cash flow and enterprise value based loans.
More on illi News
- The Property Tax Crisis: Why Thousands of Homeowners Are Losing Paid-Off Homes
- $8 Billion High-Margin National Gentlemen's Club Market Targeted by Acquisition Strategy Incorporating the Successful Peppermint Hippo™ Brand: $TRWD
- Why Indian Game Development Companies Are Shaping the Future of Global Gaming
- Cold Storage and Proof-of-Reserves: BTXSGG Launches Institutional-Grade Asset Protection for Filipino Traders
- Why FIRE Enthusiasts Are Buying Businesses Instead of Just Saving Their Way to Freedom
About Monroe Capital
Monroe Capital LLC ("Monroe") is a premier boutique asset management firm specializing in private credit markets across various strategies, including direct lending, asset-based lending, specialty finance, opportunistic and structured credit, and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe's platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality "alpha" returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, New York, and San Francisco.
Monroe has been recognized by both its peers and investors with various awards including Private Debt Investor as the 2020 Lower Mid-Market Lender of the Year, 2020 Lender of the Year, and 2020 CLO Manager of the Year, Americas; Creditflux as the 2020 Best U.S. Direct Lending Fund; Pension Bridge as the 2020 Private Credit Strategy of the Year; and Global M&A Network as the 2020 Small Middle Markets Lender of the Year. For more information, please visit www.monroecap.com.
Filed Under: Business
0 Comments
Latest on illi News
- Bookmakers Review Launches Betting Insights on NBC's "The Voice: Battle of Champions"
- Coming Up this Weekend on CNBC Mike Milligan Joins Tom Hegna on "Financial Freedom with Tom Hegna"
- Chicago: Mayor Brandon Johnson, BACP Announces Request For Proposals For Driver Resource Center
- Mayor Brandon Johnson, Department of Streets and Sanitation, And Chicago Public Library Expand Food Scrap Drop-Off Program To 13 New Library Locations
- Mayor Brandon Johnson Announces the Return Of "Chicago Fall Fest" From Oct. 17-Nov. 2, Featuring Hundreds Of City-Supported Events For Youth and All Residents
- Predatory Refinancing: How Homeowners Fall Into the Equity Trap Without Realizing It
- UK Website Launches "Toy Time Machine" — Find Your Childhood Christmas Toy in One Click
- Stay Safe in Style: The DR. ORGANIZER Personal Purse Alarm Delivers Powerful Protection in a Compact Design
- The Tiny Kitchen Tool That Solves a Big Cooking Headache
- Why Every Dog Deserves a Milo's Choice Towel
- The Secret to Shoes That Actually Fit: Meet the Little Toe Guard
- $73.6M Pipeline, $10M Crypto Play & Legal Firepower: Why Investors Are Watching Cycurion (N A S D A Q: CYCU) Like a Hawk
- Grammy award-winning Cuban-Canadian artist Alex Cuba releases his 11th studio album, "Indole"
- Thread Advisory Group Launches to Help Retailers Turn Strategy Into Lasting Results
- QView Medical and Eve Wellness Announce Partnership to Advance Direct-to-Consumer Breast Cancer Screening With FDA-Approved AI
- New Article Reveals Common Pricing Pitfalls in Flooring Projects — And How to Avoid Them
- Airbus Defence and Space and Omnitronics Sign MoU to Advance Interoperability in Critical Communications
- The Son I Knew Too Late: Turning Grief into Guidance
- BCFoods Announces Expansion to New Warehouse Facility in Bolingbrook, Illinois
- Eagle Lasers USA Launches New Website to Empower American Metal Fabricators with Next-Generation Fiber Laser Cutting Solutions