AXXA Management is making personal guarantee's & assuming existing loans on many of these aquisitions so they have Bankers convinced they know what they are doing!
Quote: "We just have to trust that they know what they are doing"
Condo Property Details: Luxury condominiums located at a prime location in midtown Manhattan, dimensions from just under 2,000 square feet to approximately 3,000 square feet. The luxury residences feature spectacular views of the NYC skyline. Control over the condominiums was purchased through a combination of installment payments of cash, debt, and assumption of bank loans, privately structured capital investments and personal guarantees from Exxe’s management. Revenues from tenant rentals is expected at $700,000; under 50% bank loans LTV lowers the risks. The condos are inhabited upscale long term tenants. The building is one of the most prestigious high rises located in NYC, with a high occupancy rate, and in high demand by high net worth and corporate tenants.
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