Jim Fried of Fried On Business talks to Neil Freeman, Principal of Conlon Capital, Chairman and CEO of Aries Capital, President of Urban Development Fund (UDF) and a lifelong entrepreneur. Throughout his 40-year career in finance and commercial real estate, he has closed over $5.5 billion in debt, equity, mezzanine and tax credit financing for hotel, multifamily and commercial properties across the United States and in the Caribbean. As one of the most successful New Markets Tax Credit Community Development Entities with the United States Treasury, UDF has received over $700 million in federal and state New Markets Tax Credits allocations, translating to $1 billion in transactions. UDF focuses on the rehabilitation of hotels, mixed-use properties, retail developments, theaters and medical facilities in highly-distressed census tracts nationwide. Freeman’s entities also hold equity interests in real estate worth more than $250 million, including apartments, hotels, shopping centers and land developments such as the 1,000-acre Three Oaks mixed-use development in Fort Myers, Florida, and the beachfront residences at Tranquility Beach on Anguilla’s Meads Bay in the British West Indies. Jim and Neil discuss new creative financing solutions for commercial real estate.
Episode 405: 02-02-17