Release Date: Dec 19, 2003
New York, NY Amalgamated Bank announced that Roy Dickinson and Deborah Nisson are joining the Bank as senior vice presidents and portfolio managers of the LongView ULTRA I Construction Loan Investment Fund, effective January 1, 2004. Dickinson and Nisson, as principals of ULTRA, LLC, have acted as advisers to the Fund for the past five years.
With committed assets of over $120 million, the LongView ULTRA I Construction Loan Investment Fund has been active in construction lending for union projects across the United States. The strategic alliance of Dickinson and Nisson with Amalgamated Bank has brought the Fund much success and growth. By integrating their real estate expertise within Amalgamated Bank, the trustee of the Fund since its inception, they believe that continued development and achievement are certain.
The LongView Ultra I Fund has helped create 2.6 million hours of union labor in its first five years and enjoyed a favorable rate of return well above the benchmark Merrill 1-3 Treasury Index. All of the Fund's construction projects are required to be built with union labor. The Fund financed construction projects in: Glendale, California; Chicago, Illinois; Boston, Massachusetts; Washington, D.C.; plus Philadelphia and Chester, Pennsylvania.
Neither the Fund nor its operation will change, but rather will continue to function as designed. At this time, several new loans are being underwritten.
For more information regarding the LongView Ultra I Fund, please contact Senior Vice President Ron Luraschi at 212-620-8621.
