He has said he would use conventional financing for the remaining buildings.

"You have less flexibility than you would with conventional financing."

The balance of the construction loan would comes from conventional financing.

However, conventional financing must be obtained after five years.

"As a nonprofit we could have never afforded conventional financing."

The balance is to come from insurance proceeds and conventional financing.

Mr. Ross said the interest rate on these bonds was at least 2 percentage points below conventional financing.

Bridge loans are typically more expensive than conventional financing to compensate for the additional risk of the loan.

Accordingly, it became necessary to obtain conventional financing for the entire property, paying off the 20-year bond early.

His knowledge and expertise in global real estate markets range from conventional financing to structured finance.