HOUSE_OVERSIGHT_024538.jpg
1.41 MB
Extraction Summary
0
People
5
Organizations
1
Locations
3
Events
2
Relationships
3
Quotes
Document Information
Type:
Legal/financial report (house oversight document)
File Size:
1.41 MB
Summary
This document, page 105 of a House Oversight file (Bates 024538), details the financial terms of a Real Estate Transaction involving 'KLC' entities (likely KinderCare). It outlines the terms of Junior Mezzanine debt, including interest rates (15.13% cash/1.50% PIK), maturity (May 2016), and prepayment penalties. Additionally, it describes a Master Lease agreement established in November 2005 where KLC OpCo leases 713 centers from KLC PropCo for $91 million annually under a triple net lease structure.
Organizations (5)
| Name | Type | Context |
|---|---|---|
| KLC | ||
| KUE | ||
| KLC OpCo | ||
| KLC PropCo | ||
| CMBS debt lenders |
Timeline (3 events)
Locations (1)
| Location | Context |
|---|---|
Relationships (2)
KLC OpCo entered into a Master Lease with KLC PropCo
Key Quotes (3)
"The Junior Mezzanine debt is subordinated to the new CMBS debt."Source
HOUSE_OVERSIGHT_024538.jpg
Quote #1
"The term of the Master Lease is 15 years and annual rent under the Master Lease is $91 million per year"Source
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Quote #2
"The Master Lease is a triple net lease that requires KLC OpCo to pay all operational expenses, taxes, utilities, insurance and maintenance costs"Source
HOUSE_OVERSIGHT_024538.jpg
Quote #3
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