ZICIX+CTIP-FII SIGNS CONTRACT WITH IFCI TO DEVELOP $20 MILLION SENIOR CITIZENS RESIDENCE PROJECT IN NEWARK, NEW JERSEY
Retrieved on:
Tuesday, January 10, 2023
BCE, Arco, Hospital, Old age, SPE, Dominican Republic, General contractor, Ministry, MOH, ENR, Partner, Project, Retirement, LGU, Longevity, Housing, New Jersey Department of Community Affairs, Country, PRSC, Engineering News-Record, Research, Architecture, OTC Markets Group, PSRC, Engineering, Association of Jewish Aging Services, Investment, Clinton Avenue Historic District (Albany, New York), WSM, Qatar Investment & Projects Development Holding Company, Ageing, LOI, Negotiation, Safety, Local government, Minister for Local Government (United Kingdom), CSCEC, Bachelor of Engineering, Renewable energy, Construction, Management, Self storage, City
ZICIX+CTIP-FII assisted IFCI in all these arrangements, including the conditions imposed upon by DEHD to finally transfer the ownership of the property to IFCI.
Key Points:
- ZICIX+CTIP-FII assisted IFCI in all these arrangements, including the conditions imposed upon by DEHD to finally transfer the ownership of the property to IFCI.
- In the contract between IFCI and ZICIX+CTIP-FII, the latter’s role, obligations and responsibilities are defined in the contract, in its role as the Project Developer.
- In addition, the Project Developer creates and proposes to the Project Owner, the right financial structure for the Project.
- The contract between IFCI and ZICIX+CTIP-FII includes the option of ZICIX+CTIP-FII to invest into Project by acquiring partial ownership interest into PSRC.