Projects
Under Advisement
200,000 SF Office Building
Ft Lauderdale, FL
Loan Modification Goals:
- CMBS loan modification with principal reduction and bifurcation of the note
- Implement revised leasing plan to wait out the market for purposes of increasing rents and NOI
Under Advisement
300,000 SF Office Park
Palm Beach Gardens, FL
Loan Modification Goals:
- CMBS loan extension
- Implement revised leasing plan to wait out the market for purposes of increasing rents and NOI
Under Advisement
178 Multi-
Volusia County, FL
Loan Modification Goals:
- Recapitalization for purposes of buying note on behalf of borrower at a 35% discount.
Expected Result:
- Purchase of note at 35% discount.
- 30 day close.
- Borrower retain 10% ownership interest in new venture with borrower participation in cash flow and appreciation based on achievement of target IRR
- Borrower to participate in percentage of disposition proceeds above targeted IRR for new investor
Completed
89,000 SF Shopping Center
Palm Beach County, FL
Palm Beach County, FL
Modification Achieved:
- Partnered with the borrower and the borrower's team to develop modification proposal.
- Successfully completed loan modification thereby avoiding bankruptcy and litigation.
- Borrower was able to lower the interest rate, extend the term and remove a portion of the recourse liability.
- Loan total was $12m