For Immediate Release: New York: WINTER & COMPANY COMMERCIAL REAL ESTATE FINANCE has closed a $4,400,000 blanket mortgage covering several free-standing parking garage properties located in Brooklyn Heights, Park Slope, and downtown Manhattan.

All the garage properties are sited in prime residential neighborhoods. Beyond their current value created by the strong income stream that these dedicated parking facilities generate, they have additional intrinsic value as future development sites.

In fact, the financing was structured to accommodate the borrower's twin objectives of locking in a low fixed rate for 10 years while retaining the ability to obtain a release of one of the collateral properties during the loan term. This will allow for future development, most likely as residential ground-up construction.

The borrower is a long-established family owner of more than 35 similar parking garage properties. The new $4,400,000 non-recourse loan was funded by a foreign insurance company. The rate was locked at application. The loan closed in late December 2000.

Winter & Company specializes in providing advisory services as well as both institutional and private mortgages to commercial real estate owners and professionals nationwide. Its affiliate, W Financial is a direct private bridge and mezzanine lender providing short-term, special situation financing to developers, owners and investors. If you are an accredited investor and would like to learn more about investing in the Fund, visit PrivateMortgageInvestment.com