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Columbia Pacific makes first loan from new COVID-recovery fund


Columbia Pacific Advisors has launched the Columbia Pacific Recovery Fund to provide capital to real estate owners and developers affected by COVID-19, company executives announced.
With an initial purse of $200 million, the equity-based platform’s first investment is a $39.1 million, 36-month bridge loan for 68-70 Spring Street, a new 24,357-square-foot mixed-use residential property in SoHo, New York. The owners will use the funds to support lease-up of the eight-story luxury rental and retail building, which includes 10 apartments ranging from two-bedroom, two-bath units to a penthouse with three bedrooms and three baths.
“We are pleased to provide the first loan through the Columbia Pacific Recovery Fund for 68-70 Spring Street in SoHo, which is ideally located near one of the strongest retail corridors in New York City,” said Eric Jordan, Senior Vice President of Real Estate Lending at Columbia Pacific Advisors. “We believe the capital provided will enable th ....

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Papua BNN seizes 200 packs of marijuana from two dealers


Papua BNN seizes 200 packs of marijuana from two dealers
23rd January 2021
Two suspected drug dealers arrested by the National Narcotics Agency (BNN) in Papua Province. ANTARA/HO-BNN Papua
Jayapura, Papua (ANTARA) - The National Narcotics Agency (BNN) in Papua Province seized 200 packs of dried marijuana from two drug dealers apprehended during drug raids on Thursday evening and early Friday, the Papua-based agency s head, Robinson Siregar, stated.
The suspects were identified as Wolfram Wambrau alias Opam, 27, and Yosep Demetau alias Ocep, 25, Siregar told journalists in Jayapura, the capital of Papua Province, on Friday evening.
The agency head noted that the marijuana packages confiscated by police officers from the two suspects weighed 2.5 kilograms in total. ....

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