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Investment Banking and
Strategic Business Development
PW Funding Purchase of Larson Financial Resources
Acquisition Summary
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Target Information |
| Target: |
Larson Financial
Resources, Inc. Type of Company: Commercial/Multifamily Lender |
| City: |
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State: NY |
| Financial Data As Of: |
N/A |
Assets: N/A |
Book Value: N/A |
| Target’s Business: |
Founded in 1985,
Larson has arranged for more than $2.5 billion in financing through 27
different lending institutions. The company originates commercial and
multifamily loans in New Jersey, Pennsylvania and New York and is a top
producer of multifamily loans for Freddie Mac in the northeast. |
|
Acquirer Information |
| Acquirer: |
PW Funding Inc.
Type of Company: Commercial/Multifamily Lender |
| City: |
New York |
State: NY |
| Financial Data As Of: |
N/A |
Assets: N/A |
Book Value: N/A |
| Acquirer’s Business |
PW Funding, now
a subsidiary of Charter Municipal Mortgage Acceptance Company, is a full
service direct mortgage lender providing long term, fixed rate,
permanent financing nationally for a variety of income property types.
The company specializes in financing apartment, commercial, cooperative
and senior housing and healthcare properties. Since inception, PWF has
originated more than $3 billion of financings through a variety of
programs. FWF’s current originations total over 400 loans in 33 states,
totaling approximately $1.7 billion. Over the past two years, PWF has
provided over $1 billion in financings for a variety of income property
types nationwide. |
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Transaction Information |
| Status: |
Completed |
| Announcement
Date: |
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Accounting: N/A |
| Completion Date: |
Fall 2000 |
Consideration:
N/A |
| Deal Value: |
N/A |
| Comments: |
In December,
2001, FW Funding was purchased by Charter Municipal Mortgage Acceptance
Company ("CharterMac"), a leader in tax-exempt multifamily bonds. |
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