The initial $16 million preconstruction development funding for the ADMC 24/7 City is in the process of being raised through the issue of mortgage backed participation certificates (“MPC”) to be secured by 6 times collateral coverage.
This initial funding is intended to complete (i) the design engineering of the architectural specification developed by the development management company and master planner necessary to commence the construction and (ii) the pre-lease marketing that together with the guarantees of the construction completion will result in (iii) the issue of investment grade debt for the construction of the entire phased ADMC 24/7 City Project.
The renderings can be seen together with a video next to and below this Project summary of the site, the master plan, the marketing, the construction and financing.
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