Mission Capital Advisors announced that its Debt and Equity Finance Group has arranged $15 million in first mortgage financing for the Palihouse West Hollywood, a 37-key, boutique, long-stay hotel in the heart of West Hollywood, CA.

Media Contact: John Yocca jyocca@beckermanpr.com
201-­‐465-­‐8018

FOR IMMEDIATE RELEASE

Mission Capital Advisors Arranges $15 Million in First Mortgage Financing For Palihouse Hotel in West Hollywood

Completed on Behalf of Beverly Pacific, LLC, the Financing Reflects Mission Capital’s Ability to Identify Ideal Capital Sources

WEST HOLLYWOOD, Calif. (April 30, 2014) — Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its Debt & Equity Finance Group has arranged $15 million in first mortgage financing for the Palihouse West Hollywood, a 37-­‐key, boutique, long-­‐stay hotel in the heart of West Hollywood, Calif.

Secured on behalf of Palihouse owner Beverly Pacific, LLC, the loan equates to $405,000 per key for the hotel, which has recently implemented a general update of the property, including a refresh of its rooms, lobby, common areas and restaurant. Ownership also intends to install a rooftop bar and lounge.

The Mission Capital team that secured the financing from a large domestic commercial bank was led by Managing Director Jordan Ray, Associate Director Steven Buchwald and Director Gregg Applefield, who relocated to the company’s Newport Beach office in 2013 to expand its ability to source, underwrite and structure commercial real estate transactions on behalf of West Coast-­‐based owners, investors and developers.

“This deal reflects Mission Capital’s unique ability to identify the ideal lender by tapping into an unparalleled network of capital sources and leveraging a deep understanding of the marketplace, ultimately resulting in the best financing for the sponsor,” Applefield said. “It’s the first deal that the borrower and lender are completing together, and we think it could be the start of a long-­‐term relationship between the two. As we continue to expand our presence on the West Coast, this is the type of low-­‐cost financing that our clients here can expect.”

Palihouse West Hollywood is a luxury urban lodge that offers studio, one-­‐ and two-­‐bedroom guest suites and loft-­‐style residences, a roof deck for private entertaining and fine dining at the Palihouse Courtyard Brasserie.

About Mission Capital Advisors

Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York City, Florida, Texas, California and Mobile, Al. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across commercial and residential loan sales; debt, mezzanine and JV equity placement; and loan portfolio valuation. Since its inception, Mission Capital has advised a variety of leading financial
institutions and real estate investors on more than $45 billion of loan sale and financing transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets. Mission Capital’s seasoned team of industry-­‐leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information,
visit www.www.missioncap.com.

Download icon PDF File 60.84 KB Download
Source: CityBizList

Mission Capital Advisors announced that April Kennedy has joined the company’s Residential Mortgage Services practice as vice president of residential mortgage operations.

Media Contact: John Yocca jyocca@beckermanpr.com
201-­‐465-­‐8018

Mission Capital Advisors Names April Kennedy Vice President of Residential Mortgage Operations

Strategic Hire Reflects Significant Growth in Business For Firm’s Residential Mortgage Services Platform

NEW YORK (April 24, 2014) — Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that April Kennedy has joined the company’s Residential Mortgage Services practice as vice president of residential mortgage operations.

The strategic hire is reflective of the significant business growth experienced by Mission’s Residential Mortgage Services practice in recent months.

With more than 16 years of leadership experience in the mortgage banking industry, Kennedy will be responsible for management of Mission Capital’s residential due diligence and management of transaction support for client services including collateral document delivery, repurchase requests, servicing transfers and title cures.

In this role, Kennedy will report to Ray Ralph, Managing Director of Mortgage Operations.

“As we grow our Residential Mortgage Services business line, we welcome April to our ever-­‐expanding team of dedicated, talented professionals,” said Joseph Runk, principal of Mission Capital. “She brings a unique perspective and skill set that will be extremely valuable to the firm.”

Kennedy has extensive experience in various servicing functions of residential mortgages including: default management, loss mitigation, bankruptcy, foreclosure and REO. She has previously held positions at HSBC Bank, CitiFinancial Mortgage Company and Quantum Servicing.

“Mission Capital continues to cement its position as a solution for our clients facing complex management challenges for their residential portfolios, and I couldn’t be more excited to join a team that is widely respected throughout the industry,” Kennedy said. “I look forward to sharing my knowledge as we work to expand our services.”

About Mission Capital Advisors

Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York City, Florida, Texas, California and Mobile, Alabama. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across commercial and residential loan sales; debt, mezzanine and JV equity placement; and loan portfolio valuation. Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $60 billion of loan sale and financing transactions, as well as in excess of $15 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly
to provide unmatched loan portfolio valuation services for both commercial and residential assets. Mission Capital’s seasoned team of industry-­‐leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information, visit www.www.missioncap.com.

Download icon PDF File Download
Visit External Link

Mission Capital Advisors announced that April Kennedy has joined the company’s Residential Mortgage Services practice as vice president of residential mortgage operations.

Download icon PDF File 56.92 KB Download
Source: Bloomberg

Bloomberg Briefs does a Q&A with Mission Capital Advisor’s Managing Director Dwight Bostic.

REAL ESTATE

First Quarter 2014

sponsored by:



04.24.14 www.bloombergbriefs.com Bloomberg Brief | Real Estate 20

q & a wiTh dwighT BOSTiC

investment Banks Eager for yield return to real Estate, mission’s Bostic Says

The low interest rate environment has spurred investment banks to join hedge funds and private equity firms to buy distressed real estate, Dwight Bostic, managing director at Mission Capital,

tells Bloomberg Brief’s Aleksandrs Rozens.

distressed side, there is still a significant amount of non-performing and troubled debt, restructured re-performing assets that sit on balance sheets of the deposi- tory institutions. Some of the structured
re-performing assets in this rate environ- ment as something they are willing to hold and earn the yield. Sometimes they have private investors behind them and
they create investment vehicles for private

sales that the FDIC ran in 2008 and 2009

have kind of played out and have gotten
equity groups or investors. They are really
focused on the higher yield, distressed

Q: Who is buying distressed real estate debt these days?

A: In the last few years there’s been sig- nificant capital raised and there have been participants that exited the market during the significant downturn that have moved back in – probably most notably the investment banks. Then, there are hedge funds and private equity. It’s a pretty broad market when it comes to investing in distressed assets these days.

Q: What kind of paper is it – Fannie and Freddie mortgage debt or non- conforming mortgages?

A: It is mostly assets that would have

been originated in 2006 and 2007 and into

2008. From a legacy standpoint on the
to the point where they can be liquidated. We are seeing some funds enter their wind-down phase — some of the early
acquisitions that were made in the market. It’s not purely depository institutions that have been sellers. It has been some of
the funds as well.

Q: What’s behind the renewed inter- est by investment banks? Are they restarting conduits for commercial and residential mortgages?

A: Today while there have been some banks willing to get back into new origina- tion in conduit, that hasn’t really taken off because the securitization market has

not really taken off. The banks are look- ing at taking down the distressed side or
side of the market. The banks are also extending warehouse lines now to buyers in distressed markets. That’s been a boon to overall pricing.

Q: What’s your impression of the sec- ond lien home equity market? Is any- one buying home equity loans? What does that say about how people feel about the return in value of housing?

A: The second-lien home equity space has been very thin. While the housing appreciation we have seen has been more favorable than we thought it would be at this stage, it really has not resulted

in some of 2006, 2007 and 2008 vintages coming back to a point where the second liens have equity in them. So it’s still very
to advertise in future editions of Bloomberg Brief
real estate or any other of our 18 titles contact us today.
Contact: Adrienne Bills abills1@bloomberg.net / +1-212-769-0480
Visit bloombergbriefs.com/advertising for more information.


04.24.14 www.bloombergbriefs.com Bloomberg Brief | Real Estate 21

Q&a…

much a collection play from a debt versus any sort of collateral backing it up. The banks and the other holders of that — the execution they are going to get on that
is pennies on the dollar. The operational capacity that it relieves from them doing is not that significant. That market is very
thin right now and given some of the regu- latory oversight and regulations that have been put in place, I don’t think that market is going to come back for a while.

Q: What happens to the market when Fannie and Freddie are unwound? Does this mean the end of 20- and 30- year mortgages?

A: That’s one of the big concerns as to whatever sort of reform comes out of this: How do you preserve the 30-year

that is to not push the market to purely a balloon or adjustable rate environment.

Q: From what I recall, FHA loans saw a high rate of defaults and delinquen- cies. Are you doing anything in that space in terms of FHA or VA paper?

A: HUD has been actively selling non- performing loans for the last couple of years. All indications are that they will continue to be active sellers for the fore- seeable future, call it three to five years. We are pursuing that market. Really there is the direct involvement with HUD and then there is the potential for individual

age: 49

banks and other holders of that paper to buy loans out of the Ginnie Mae securi- ties — its called early buy out — and sell them. But the current rate environment is not really conducive to that trade. I think the majority of the trades will be direct through the HUD where HUD actually takes a bank out of the asset, pays off the claim and sells that uninsured asset into the secondary market. We are pursuing that business and I think that will be the majority of the HUD FHA and VA loan sales over the next several years.
fixed-rate mortgage for people? And, what sort of role does the government have

in ensuring that that type of financing is available? I don’t think anybody knows the resolution that’s going ultimately pass. I know that’s a very important part of this unwinding process and the future role of government in the mortgage space — and

Education: West Virginia University

Professional Background: Has worked for Pru Home Mortgage, Ocwen Financial, Donaldson Lufkin & Jenrette and Credit Suisse. Joined Mission Capital when it was founded in 2002.

Family: Married, two daughters.

hobby: Avid tennis player.

5

th

Real Estate

 

Mezzanine

FINANCING SUMMIT
MAY 8th, 2014 | NEW YORK
KEY TOPICS THAT WILL BE COVERED:
• New Market Outlook for 2014
• Changing Opportunities in Mezzanine Financing including New Investments in Real Estate, Construction, and Secondary & Tertiary Markets
• Increasing Ownership Rates and the Changing Relationship Between the Senior Lender and the Mezzanine Lender
• Expanding Construction and Development throughout the Country and Beyond
• Blending Deals with Structural Changes in Mezzanine Financing and Preferred Equity, and Expanding Investment Opportunities Beyond
Large Real Estate
• Understanding the Changing Legal Structures in Mezzanine Financing Today
• Finding Potential in Multi-family Housing in an Increasingly Competitive Marketplace
REGISTER TOD AY AT www.iglobalfor um.com/mezz5

Download icon PDF File 1.26 MB Download
Source: NYREJ

Mission Capital Advisors’ debt & equity finance group arranged $33 million in financing on behalf of N.Y.-based investment and management company Icon Realty Management. The financing, a combination of CMBS and mezzanine, was arranged to refinance The GEM Hotel Chelsea, an 81-key, hotel located at 300 West 22nd St., managed by Gemini Real Estate Advisors.

Visit External Link
Source: NYREJ

Mission Capital Advisors has arranged $95 million in construction financing on behalf of Property Markets Group and Madison Equities. The loan will be used for the development of 10 Sullivan St, a residential property in the borough of SoHo neighborhood.


THE LARGEST COMMEROAL/INVESTMENr NEWSPAPER COVEIUNGTHE S"IArE

Volume 26 8 Issue 07 AprilS 21,2014

COHEN,HIRT,BUCHWALD AND MATHENY SECURE 80% LOAN-TO-COST ANANCING

Mission Capital arranges $95m const. loan for condo development

MANHATTAN,NY Mission Capital Advisors (www.missioocap.com), oneofthe leadingnationalrealestale


Hlrt Mlllileny capitalmarketssolutions finns, debt

&equity financegroupbas ammged

$95inillioninoonstructionfinancing

onbehalfofPropertyMarketsGroup
8lld Madison Equities.Theloan will
be used for the development of I0
SullivanSt,aresidential property in
the borough's SoHo neighborhood.
A fore willconsistofl9oondomin.iumunits in a 16-story tower, as weU as four JioortawnhomesaD<Ia

parlcing garage.

A Mission Capital team of man­
directorJasonCohen,director

Ari Hirt, associate director Ste­

ven Buchwald 8lld analyst Jamie Matheny secured the 80'i6'<1oanto­ cost financing. The non-recourse loan bas a fiveyear loan term including aU extension options.

'"The realization of non-recourse,

80% loan-to-cost construction fi­

=ingforagroundupcoodomini­ urn development is incredibly rare in the current market cycle:'Cohen said"MissiooCapitall>abilitytofind alenderthatnotmanycompaniescan reacbwasamajorfactorinclosingthe

deal Whilethe lender basbeenvery

selective in the loans it bas closed


the Uniled States, we were able to demon­ SIIate that !be project is well positioned to enal:ile ownership to repay theloanthrough ooodominium sales."
LocatedonSullivan StbetweenSixlbAve., SpringStaD<IBroome St, 10 Sullivan St. is close to some of the best sbopeing and restawants that New York City bas to of­ fer. The project will be unique within the neighborhood, as the site's distinct shape will aUow for several full-floor units with
360degree views,

including a duplex and triplex within a designed tower re­

sembling the Flatiron

Building. "t• Rendering of10SUllivan Street-Manhlltlan, NY

Download icon PDF File 205.21 KB Download
Source: Bisnow

Mission Capital Advisors’ Jason Cohen, Ari Hirt, Steven Buchwald, and Jamie Matheny arranged $95M in construction financing from an off-shore lender for Property Markets Group and Madison Equities.

FINANCING

Mission Capital Advisors' Jason Cohen. Ari Hirt. Steven

Buchwald, and Jamie Matheny arranged $95M in

cons truction financing from an off-shore lender for Property Markets Group and Madison Equities. They'll develop 19 condos across 16 stories. as well as four five-floor townhomes and a parking garage. at 10 Sullivan St.

Download icon PDF File 200.46 KB Download
Source: The Real Deal

Icon Realty Management has secured $33 million in financing for Chelsea’s GEM Hotel, replacing an initial $22 million mortgage closed in January of 2012. The first mortgage & mezzanine financing were arranged by Mission Capital.

N EWYORK R EALESTATE N EWS

j

GEM Hotel developer reloads,

raises $33M In refinancing

Icon Realty Mana.g mcnt bas secured
$33 million in financing for Chelsea's GEM Hotel, replacing an initial $22 million mortgage closed in January of
2012.The first mortgage and mC"f.zaninc financing, arrauged hy Mi. sion Cs.pi tal Advsi ors llnd pro,idcd by Ladder Capital, wassplitbetween a.CMBS loon witha so­ year amortization and an interest-only
mezzanine facility, a source familiar with the nL-gotiations told the New York Obsen-er. Mi ion capital's Jordan Ray,Jason Cohen and Ari Hirtled the negotiationson the new debt.The81-key boutique hotel at SOO West 22nd Street opened in 2008 foTiowinga gut renovation.(Thedeal was Rnnouneed af:Wr the deadlineforthe Dc.al Sh cct.) TRD

Download icon PDF File 442.41 KB Download
Source: CityBizList

Debt & Equity Finance Group obtains extremely rare 80-percent loan-to-cost financing on behalf of Property Markets Group and Madison Equities.

c it y hi. li s t

News User News Choose A Market Videos

Mission Capital Secures $95-Million Construction Loan for

Luxury Condominium Development at 10 Sullivan Street in

NYC's SoHo Neighborhood

April,2014 ShareThis: !:" r-

Debt & Equity Finance Group Obtains Extremely Rare 80Percent LoanToCost Financing on Behalf of Property Markets Group and Madison Equities

Mission Capita l Advisors, a leading national real estate capital markets solutions firm, today announced that its Debt & Equ ity Fi nance G roup has arranged $95 million in construction financing on behalf of Property Markets Group and Madison Equities. The loan will be used for the development of 1 0 Sullivan Street, a luxury residential property in the heart of Manhattan's SoHo neighborhood.

A forsale project, 1 0 Sullivan Street will consist of 19 luxury condominium units in a 1 6story tower, as well as four fivefloor townhomes and a 1 0space parking garage.

A M ission Capital team of Managing Director jason Cohen, Director Ari Hlrt, Associate Director Steven Buchwa ld and Ana lyst jam ie Matheny secured the SOpercent loanto­ cost financing. The nonrecourse loan has a fiveyear loan term including all extension options.

"The realization of nonrecourse, SOpercent loantocost construction financing for a groundup condominium development is incredibly rare in the current market cycle," Cohen said. "M ission Capital's ability to find a lender that not many companies can reach was a major factor in closing the deal. While the lender has been very selective in the loans it has closed the United States, we were able to demonstrate that the project is well positioned to enable ownership to repay the loan through condominium sales."

Located on Sullivan Street between Sixth Avenue, Spring Street and Broome Street, 1 0

Sullivan Street is in proximity to some of the best shopping and restaurants that New York City has to offer.The project will be unique within the neighborhood, as the site's distinct shape will allow for several full-floor units with 360degree views, including a duplex and triplex within a 5pectacularly de5igned tower re5embling the Flatiron Building.
The tower will also feature groundfloor retail space, a residential lobby, storage and a gym for residents.

About Mission Capita l Advisors

Founded in 2002, M ission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York City, Florida, Texas, California and Mobile, AI. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across commercial and residential loan sales; debt, mezzanine and JV equity placement; and loan portfolio valuation. Since its inception, M ission Capital has advised a variety of leading financial institutions and real estate investors on more than $45 billion of loan sale and financing transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets. M ission Capital's seasoned team of industry-leading professionals is committed to achieving clients' business objectives while maintaining the highest levels of integrity and trust. For more information, visit www.missioncap.com.

Download icon PDF File 248.72 KB Download
Source: Globe Street

Debt & Equity Finance Group obtains extremely rare 80% Loan-to-Cost financing on behalf of Property Markets Group and Madison Equities.

GlobeSI.com

Real Estate Is our domain w

Mission Capital Secures $95-Million Construction Loan For Luxury

Condominium Development At 10 Sullivan Street In NYC's SoHo

Debt & Equity Finance Group Obtains Extremely Rare So-Percent LoanTo-Cost

Financing on Behalf of Propetty Marlfets Group and Madison Equities

NEW YORK (Aprll 1, 2014)- Mission CapitalAdvisors,a leading nationalreal estate capital markets solutions firm, today announced that its Debt & Equity Finance Group has arranged

$95 million in construction financing on behalf of Property Markets Group and Madison Equities.The loan will be used for the development of 1o Sullivan Street, a luxury residential property in the heart of Manhattan's SoHo neighborhood.

A for-sale project,10 Sullivan Street will consist of 19luxury condominium units in a 16-story tower, as well as four five-floor townhomes and a 10-space parking garage.

A Mission Capital team of Managing Director Jason Cohen, Director AriHirt,Associate Director Steven Buchwald and Analyst Jamie Matheny secured the SO-percent loan-to-cost financing.The non-recourse loan has a five-year loan term including all extension options.

"The realization of non-recourse,SO-percent loan-to-cost construction financing for a ground-up condominium development is incredibly rare in the current market cycle Cohen said."Mission Capital's ability to find a lender that not many companies can reach was a major factor in closing the deal. While the lender has been very selective in the loans it has closed the United States,we were able to demonstrate that the project is well positioned to enable ownership to repay the loan through condominium sales."

Located on Sullivan Street between Sixth Avenue,Spring Street and Broome Street,10

Sullivan Street is in proximity to some of the best shopping and restaurants that New York City has to offer.The project will be unique within the neighborhood, as the site's distinct shape will allow for several full-floor units with 360-degree views,including a duplex and triplex within a spectacularly designed tower resembling the Flatiron Building.

The tower will also feature ground-floor retail space, a residential lobby, storage and a gym for residents.

About Mission Capital Advisors

Founded in 2002,Mission Capital Advisors,LLC is a leading national,diversified real estate capital markets solutions firm with offices in New York City, Florida,Texas,California and Moblie,AI. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across commercial and residential loan sales;debt, mezzanine and JV equity placement; and loan portfolio valuation.Since its inception, Mission Capitalhas advised a variety of leading financial institutions and realestate investors on

more than $45 billion of loan sale and financing transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions,positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercialand residentialassets. Mission Capita'ls seasoned team of industry-leading professionals is committed to achieving clients' busni ess objectives while maintaining the highest levels of integrity and trust. For more information,visit www.msi sioncap.com.

Download icon PDF File 215.80 KB Download
Source: Real Estate Forum

Short feature highlighting Mission Capital Director Jonathon More.

Jonathon More,32

Director

Mission Capital Advisors LLC

More grew up in a real estate family,so commer­ cial real estate was a natural ability for him. He is known for his attention to detail with a knack for thinking ahead within tran action to antici­ pate landmine . More's current responsibilities include oxiginating, structuring and executing

high value-add real estate capital nationwide, including debt, subor­

dinate debt and JV equi ty financing i n an advisory capacity. Since
2010, he's completed 36 transactions for a total dollar volume of approximately $2.1 billion. After 11years in the busi ne s, he believes IewYork is approaching the point in the cycle where deals are being put together over a weekend and speed, work ethic and market intel­ ligence is how he and the firm are creating success for their clients.

Download icon PDF File 1.69 MB Download