Source: Mortgage Observer Weekly

Mission Capital Advisors has hired Greggory Applefield as a Director in its growing Debt and Equity Finance Group.

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June 28, 2013


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New York, NY (June 19, 2013) Mission Capital Advisors today announced it has added Greggory Applefield as a Director in the firm’s growing Debt and Equity Finance Group. Applefield, was previously with Eastdil Secured as a Vice President in its real estate investment banking group for eight years. The appointment comes as Mission’s finance business experiences tremendous growth with over $1 billion of volume in the first half of 2013 for acquisitions, refinancing, recapitalization and construction projects.

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MISSION CAPITAL ADVISORS HIRES GREGGORY APPLEFIELD, FORMER EASTDIL SECURED VP, AS A DIRECTOR IN EXPANDING DEBT & EQUITY FINANCE GROUP

New York, NY – (June 19, 2013) Mission Capital Advisors today announced it has added Greggory Applefield as a Director in the firm’s growing Debt and Equity Finance Group. Applefield, was previously with Eastdil Secured as a Vice President in its real estate investment banking group for eight years.

The appointment comes as Mission’s finance business experiences tremendous growth with over $1 billion of volume in the first half of 2013 for acquisitions, refinancing, recapitalization and construction projects.
“We are extremely excited about the addition of Gregg – a solid professional who can leverage our platform,” said Jordan Ray, Managing Director and head of the Debt and Equity Finance Group at Mission. “We have worked hard to develop our business model and have been successful acquiring market share. Gregg has advised top tier real estate owners for his entire career and will be a huge asset to our existing clients and new ones.”
Applefield will be responsible for business development and placement and execution of real estate capital on behalf of institutional investors and developers nationwide. Applefield has extensive experience with structuring, origination, credit analysis, marketing, bid process management, legal negotiation, and
closing of first mortgages, A-Notes, B-Notes, mezzanine loans, and preferred equity for both single asset
and portfolio real estate transactions and been responsible for leading deal execution.
“Mission Capital is a proven debt and equity placement platform which has completed numerous high profile transactions on behalf of many notable, institutional real estate companies,” said Applefield. “As part of Mission Capital's continued growth, we will be expanding this team to the West Coast where I will be relocating in the upcoming months. I am looking forward to being a part of one of the leading financial advisory firms in the country and assisting in the growth of the platform.”
His finance closings in 2011 and 2012 include: $5.5 Billion in 46 transactions with 28 different lenders including domestic and foreign commercial banks, life insurance companies, mortgage REITs, CMBS, bridge, and mezzanine lenders.
Applefield, 30, received a B.B.A. in Real Estate and Finance at the University of Wisconsin-Madison.

About Mission Capital Advisors

Mission Capital Advisor’s Debt & Equity Finance Group has raised more than $8 billion of capital for real estate owners and developers nationwide during their careers. Mission Capital is one of the leading capital

markets advisory firms in the country, specializing in commercial real estate debt and equity placement, loan sale advisory and Fannie Mae and Freddie Mac agency delivery/cash sale transactions. Overall, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $45 billion of loan sale and real estate financing transactions and in excess of $14 billion of Fannie Mae and Freddie transactions since its inception in 2002. Since 2011, Mission’s financing team closed over $1 billion of newly originated Debt and JV equity transactions. Mission Capital maintains offices in New York, Florida, Texas, California, Michigan and Mobile. For additional information, visit www.www.missioncap.com.

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Source: Wall Street Journal

The recent sale of the mortgage on the Tri-County Mall for $31.6 million fell far short of the $135.2 million remaining balance on the CMBS loan, according to CMBS analysts including Roger Lehman at Credit Suisse and Keerthi Raghavan at Barclays. The mortgage was purchased by New York-based SDG Investment Fund, according to the broker, Mission Capital Advisors, which received five final offers for the property out of 20 initial bids.

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Source: CRENews

An affiliate of Swiss Development Group has paid roughly $31.6 million for the $149.6 million of CMBS debt against the Tri-County Mall, a troubled shopping center in suburban Cincinnati. The loan was offered by the CMBS deal’s special servicer, CWCapital Asset Management, through Mission Capital Advisors, which entertained offers in late March.


Swiss Development Pays $31.6Mln for Loan Against Ohio Mall

Commercial Real Estate Direct Staff Report

An affiliate of Swiss Development Group has paid roughly $31.6 million for the $149.6 million of
CMBS debt against the Tri-County Mall, a troubled shopping center in suburban Cincinnati.
That's slightly less than the $33.8 million value the 1.1 million-square-foot mall was appraised at last October. The sale resulted in a loss of $124 million to the CMBS deal that owned the loan, Credit Suisse First Boston Mortgage Securities Corp., 2005-C2.
The loan was offered by the CMBS deal's special servicer, CWCapital Asset
Management, through Mission Capital Advisors, which entertained offers in late March.
The sale resulted in a $5.7 million principal loss to the CMBS deal's A-J class, which originally was rated AAA by S&P and Aaa by Moody's, according to analysis by Barclays Capital. That amounts to 5.2 percent of the class' original $110.4 million balance. Bond classes below the A-J class were totally wiped out.
Barclays, citing a report from the CMBS deal's trustee, said the sale resulted in only $11.5 million of net proceeds to the transaction after servicer advances and interest shortfalls were repaid.
The loan had been in special servicing since August 2009 and hadn't made an interest payment since April 2011. The CMBS deal's master servicer had to advance those payments since then to ensure bondholders wouldn't be short-changed.
CWCapital had filed to foreclose against it, so the thinking is that Swiss Development, which is commonly referred to as SDG, will complete the foreclosure and take over the property.
The property previously had been owned by a venture of DDR Corp. and Coventry Real Estate Fund II which in 2006 acquired it for $220 million. At one time, it was the area's dominant shopping center, but suffered when new competitors sprung up around it.
The property's inline space was roughly 76 percent leased as of the end of last year, when it generated roughly $5.6 million of net operating income. It is anchored by Sears, which takes
285,000 sf, Dillard's, in 235,850 sf, and Macy's, which owns the space it occupies. JCPenney had also anchored the property, but it vacated its 160,321 sf in 2004.

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