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LOS ANGELES
KAUFMAN AND BROAD COMPLETES SECURED WAREHOUSING FACILITY
Kaufman and Broad Mortgage Co., Los Angeles, represented by Sidley Austin, Los Angeles, has completed a $360 million secured mortgage warehousing facility, which consisted of a $240 million revolving loan from a consortium of six banks, for which Credit Lyonnais' Los Angeles branch was the agent and First National Bank of Chicago was co-agent; and a $120 million commercial paper facility provided through Receivables Capital Corp.
Advances under the revolving loan agreement and the commercial paper facility are secured by a common collateral pool consisting of mortgages originated on single-family residential dwellings sold by Kaufman and Broad Home Corp., Los Angeles.
BOCA RATON, FLA.
RESORT FINANCING REDUCES DEBT
More than $150 million of mortgage refinancing has been secured for The Boca Raton Resort Club, which is located here and owned by The Boca Raton Resort Club Limited Partnership, whose general partner, The Boca Raton Management Co., is comprised of five directors: Theodore Fowler and...