Source: Mortgage Observer Weekly

Soho House is one of the leading private social clubs in the world, said Jordan Ray, a managing director on Mission Capital Advisors’ debt and equity finance team, who arranged the transaction for the borrower. A club of Soho House’s caliber will be a great addition to Chicago and the rapidly developing Fulton Market District of the West Loop.

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Source: Globe Street

Mission Capital Advisors, LLC announced yesterday that it had secured a $44.4 million construction loan to help develop Soho House in Chicago, the first venture in the city for the membership club, which already operates in New York, Miami, London, Berlin and other cities. The loan closed on May 1.

Source: Commercial Real Estate Direct

Orix Capital Markets has placed some $1.5 billion of distressed loans and foreclosed real estate up for sale in a pair of offerings that are being overseen by CBRE and Mission Capital Advisors, respectively.

I Q&A

— – —-' INAN_CE–'-1—- —–

1

f PRINCIPAL OFTHE DEBT AND EQUITY FINANCE GROUP AT MISSION CAPITAL

Jordan Ray

By Guelda Voien

ordan Ray is the principal of Mission Capital's debt and equity finance group, where he oversees business development, strategy, placement and execution of

real estate capital. His responsibilities also include sourcing and executing loan sales across the U.S.Most recently,


the brokerage arranged $20 million in equity for 146 rent­ regulated condominium units at 733 Amsterdam Avenue on the Upper West Side.

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1

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Commercial Observer: Tell us about your start at Mission Capital.
Jordan Ray: When I came to Mission, it was 2009, and the world was ending. A great friend and ex-colleague of mine had joined Mission first because he knew David Tobin (principal of Mission Capital] from years back.
I was invited to join and sell loans but ulti- ' mately started financing deals when the mar­
ket came back again. 1 walk into this office at
584 Broadway, and it's t,2oo feet, creaky wood floors and a bunch of people sitting around a trading desk with five monitors.1came from a brokerage business where 1would fight every five years to get a 15-inch monitor upgrade, as a half-nerd-well, a full nerd actually. But
I came into the office, and there was just this buzz.Selling distressed loans in a downturn is a good business.
How does Mission's business differ from other brokerages?
What Mission did before Ijoined was make the decision to invest time and money to build out existing technology. When you're selling
large pools-we'd sell half-a-billion-dollar pools of $2 million to $3 million dollar credits throughout the Midwest and the southwest­ there are a lot of loans and 20 to 30 investors looking at each one. It's a really hard set of data to manage-you can't really do that in Excel. Mission embraced [customer relation­ ship management platform] Salesforce and brought in data analysts, and we have a also have a chief investment officer, Peter Shankar. What other small brokerage firm has a CIO, right? So to be able to build out layers on top of Salesforce that we use to track investors on every transaction!looked at this, and I was like, "Wow, I was doing mortgage distribu­ tions in Excel and sending around a spread­ sheet [previously]!"
So it's not groundbreaking, but large orga­ nizations don't have the ability to make these changes in our business. While they'll always do a lot of business in our market because they control the investment sales market, we've been really good at carving out a niche as strong play­ ers in the hospitality business and the construc­ t ion side of the business, as well as storage deals and transitional stuff. When we get in there we stick, because people like our process and how we think about things. We may bolt on invest­ ment sales people at some point, but for now we're growing the hub and spoke mentality of bringing in business from multiple places.
Is the majority of your business in New
York?
New York City is a huge place, and there are lots of worthy competitors here. But if you go to Seattle, Los Angeles,Chicago,I can't really say the same thing.We've always done a ton of business in south Florida.We probably havedone more vol­ ume there than people who work there,and weare going to open a Miami location soon.We're trying
to do the same in Chicago-we've done so many
hotels and apartments there and we follow the equity investors there. In L.A. we have an office in Newport Beach, but we'reactually going to open a Santa Monica office in the next few months.
What is the office work environment like? We all come from places that are classic bro­
kerage environments. This industry is rife with internal competition-some would argue that's a good thing because it makes everyone fight for business and get off their ass and go get it, but
we're not those some.H
where everything isshared-from business devel­ opment efforts to execution of transactions. You can have an office here if you want one, but most people don't. They want to be in the mix and in the flow. We have these little (conference) call rooms and I float in and out with my laptop.Now and again I have this Steve Harvey stick [with a photoof Steve Harvey] that I hold upDid you ever read the article about when he basically told his staff to fuck off?The internet was in uproarabout how rude he was. Steve Harvey [sent a memo to histalk show stafftelling them) to leave him alone when he was backstage.Weall have one here, and if my Steve Harvey stick is up, it means go away. People will come up to me at anytime, unless my Steve Harvey stick is up (laughs].
How many people work for Mission at this point?
We're 30 on the finance side, 30 on thecommer­ cialloan side plus another 20 in the company on the residential and Mission Global side.I'm on the financing side exclusively.
What's next for Mission? How do you keep your edge?
Unless Amazon gets into the mortgage broker­ age business, I don't expect the big national Ibro­ kerages] to change their business overnight and say we'regoing to have a centralized [system] and teach 6s-year-olds who make decisions over there how to use Salesforce-it's just not going to hap­
pen. So there's a lot of runway to grow our mar­
ket share.

COMMERCIALOBSERVER.COM SEPTEMBER 20, 2017 25

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Source: Commercial Property Executive

Acting on behalf of Long Market Property Partners, financial advisory firm Mission Capital Advisors LLC raised structured debt and equity from Columbia Pacific Advisors for the purchase of the asset.

News from

May 2, 2013

Columbia Pacific, Long Market Property Buy San

Francisco’s 995 Market St.

By Barbra Murray, Contributing Editor

The 85,000-square-foot office building at 995 Market St. in San Francisco’s blossoming Mid- Market area is under new ownership. Columbia Pacific Advisors and Long Market Property Partners acting in a joint venture as 995 Market Street SF Investment L.L.C., acquired the

property from a private group in an off-market transaction for $17 million.

Acting on behalf of Long Market Property Partners, financial advisory firm Mission Capital Advisors L.L.C. raised structured debt and equity from Columbia Pacific Advisors for the purchase of the asset.
Developed in 1908, 995 Market sits in an area that is becoming known as a haven for San Francisco’s creative and high-tech set. “Some call it the ‘Twitter effect’ since they were the first substantial tenant to commit to the neighborhood in 2011,” Kovac told Commercial Property Executive. Last year the social networking
giant moved into 215,000 square feet just blocks away in the 890,000-square-foot building at
1355 Market. “The creative tenants located here appreciate the [absence of the] corporate, buttoned-down culture that is more common in the Financial District,” he added.
And at 995 Market, the trend of attracting creative and high-tech users is in full swing. Black Rock City, the mastermind of the Burning Man Festival, is anchor tenant at the 16-story tower, occupying 20,000 square feet. With a tenant roster that fills only 55 percent of its space, the building has ample room to accommodate office-space seekers, and the new owners plan to capitalize on the growing interest in the area through an extensive improvement program that will commence immediately.
But the new owners of 995 Market, the tallest tower along the Mid-Market corridor, will be able to rely on more than just updated digs to reel in occupants. The property is sited practically next door to the 250,000-square-foot Market Street Place retail development that is currently
underway. Also, 995 Market offers another coveted amenity: location in the Payroll Tax Exclusion zone. “Additionally, payroll tax incentives were enacted by the City of San Francisco to encourage tenants to locate in the area,” Kyle noted.
The San Francisco office market, as a whole, is thriving. The direct vacancy rate in the first quarter of the year was just 5.5 percent, according to a NKFC&CC report.
http://www.cpexecutive.com/regions/west/columbia-pacific-long-market-property-buy-san- franciscos-995-market-st/

261 Fifth Avenue, 2nd Floor New York, NY 10016

Telephone: (212) 685-4300 Fax: (212) 685-9024

www.DKCnews.com

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Source: Hotels Magazine

Mission Capital Advisors LLC announced on Thursday that it has arranged for a US$44.4 million construction loan for the development of Soho House Chicago.

News from

May 2, 2013

Soho House gets financing for Chicago expansion

By Nathan Greenhalgh

Mission Capital Advisors LLC announced on Thursday that it has arranged for a US$44.4 million construction loan for the development of Soho House Chicago.
Mission Capital obtained the loan on behalf of the sponsor, a joint venture between Shapack
Development and AJ Capital Partners, both of Chicago. The loan closed on Wednesday.
The property is a 6-story, 117,000 sq ft (10,869 sq m) industrial building constructed in
1908. Scheduled to open in the summer of 2014, Soho House Chicago will include 40 guestrooms, a Cowshed Spa, gym, restaurant and bar, rooftop pool, and a screening room, as well as Chicken Shop and Pizza East restaurants. Founded in 1995, Soho House Group operates
11 Soho Houses, 14 freestanding restaurants, seven hotels, three freestanding cinemas and eight
Cowshed spas, globally.

Figure 1-An artistic rendering of Soho House Chicago

The joint venture purchased the property in February 2012 and subsequently signed a long-term lease with London-based Soho House Group, which was announced in May 2012 along with other new Soho House deals.
Soho House was founded in 1995 as a private members’ club for those in the film, media and
creative industries.
http://www.hotelsmag.com/Industry/News/Details/41683

261 Fifth Avenue, 2nd Floor New York, NY 10016

Telephone: (212) 685-4300 Fax: (212) 685-9024 www.DKCnews.com

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Source: Chicago Real Estate Da

Shapack Development and AJ Capital Partners LLC, both based in Chicago, received the loan from New York-based NorthStar Realty Finance Corp., a key step in their plan to convert a former rubber belt factory at 113-125 N. Green St. into a trendy club and boutique hotel. The loan closed yesterday, according to New York-based Mission Capital Advisors LLC, which arranged the financing.

News from

May 2, 2013

Soho House hotel developers secure $44.4 million construction

loan

By: Ryan Ori

The developers of the Soho House hotel in the Fulton Market meatpacking district landed a $44.4 million loan to finance construction of the 40-room hotel.

Figure 1- A rendering of the Soho House planned for 113-125 N. Green St.

Shapack Development and AJ Capital Partners LLC, both based in Chicago, received the loan from New York-based NorthStar Realty Finance Corp., a key step in their plan

to convert a former rubber belt

factory

at 113-125 N. Green St. into a trendy club and boutique hotel.
The loan closed yesterday, according to New York-based Mission Capital Advisors LLC, which arranged the financing.
The total cost of the project is not known. The developers paid $6.5 million in February 2012 for the former Chicago-Allis Manufacturing Corp. factory. The building is just southwest of the intersection of Randolph and Halsted streets, in the heart of the city's rapidly expanding restaurant row.
Jeff Shapack, president of Shapack Development, said demolition work began in April, including the removal of the sixth floor, which will be reconstructed. Completion of the project is planned by June 2014, he said.
The six-story, 40-room hotel will be the first in the Midwest for London-based Soho House Group. It will include Chicken Shop and Pizza East restaurants, a bar and pool on the rooftop, plus a spa, gym and screening room.
Founded by Nick Jones in 1995, Soho House offers private memberships but also reserves some rooms for the public. It has 11 hotels, with locations including London, Berlin, Toronto, New York and Miami.
“Soho House is one of the leading private social clubs in the world,” Jordan Ray, managing director of New York-based Mission Capital Advisors, a capital markets advisory firm, said in a statement announcing the placement of the construction loan. “A club of Soho House's caliber will be a great addition to Chicago and the rapidly developing Fulton Market district of the West Loop.”
http://www.chicagorealestatedaily.com/article/20130502/CRED03/130509933/soho-house-hotel- developers-secure-44-4-million-construction-loan

261 Fifth Avenue, 2nd Floor New York, NY 10016

Telephone: (212) 685-4300 Fax: (212) 685-9024 www.DKCnews.com

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Source: Curbed Chicago

Real Estate investors Mission Capital Advisors, LLC obtained a $44M contruction loan on behalf of the joint local venture charged with developing the boutique hotel and social club Soho House Chicago.

C H I C A G O


W E S T L O O P C H I C A G O D E V E L O P M E N T N E W S 14

Soho House Lands Construction Loan For

Green Street Project

B Y I A N S P U L A M A Y 2 , 2 0 1 3 , 3 : 4 0 P




R E C

Real estate capital markets advisory firm Mission Capital Advisors, LLC obtained a $44M contruction loan on behalf of the joint local venture charged with developing the boutique hotel and social club Soho House Chicago. The building is already in the developers' hands. The loan was secured Wednesday, per a press release, and means that conversion of the former Chicago Belting Factory warehouse at 113­125 N. Green near Randolph can move steadfastly toward a Summer 2014 completion. On the menu for the 6­story hotel:
40 luxury rooms, spa, rooftop pool, gym, 40­seat screening room, three restaurants, and a glass­enclosed rooftop bar. This will be UK­based Soho House's third U.S. location. We'd say this is a transformative moment for the West Loop, but that'd be ignoring 25 years of
transformative moments.
·Fulton Market the Likely Recipient of a Soho House Hotel [Curbed Chicago]

·Soho House Confirms 2014 Opening With 3 Restaurants [Eater Chicago]

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