Source: Real Estate Finance Intelligence

Mission Capital Advisors is seeing a rise in transactions in secondary and tertiary markets.

Mission Capital Sees Spike In Secondary, Tertiary Market Deals

Friday, July 25 -­‐ Samantha Rowan

Read More: Mission Capital Advisors · Ari Hirt · Gregg Applefield

Mission Capital Advisors is seeing a rise in transactions in secondary and tertiary

markets. The New York-­‐based advisory company began to see a trickle of activity in the long-­‐term lending space a couple of years ago but over the past few months this has transformed into a full slate of lending products, including construction financing, mezzanine lending and bridge loans, said Ari Hirt, a director in the debt and equity group.

The shift is being driven by investors who are seeking higher yields than are available in prime, gateway markets as well as lenders—including banks, mortgage real estate investment trusts and private equity funds—that need to put out capital.
“Clients who are priced out of primary markets are willing to expand their
investment criteria,” said Gregg Applefield, director.

The firm has done deals recently in markets in Alabama, suburban Detroit, the Midwest and Las Vegas, but has worked in a broad swath of secondary and tertiary
markets nationally. “Some of these deals are for clients who are taking a chance to
take out short-­‐term bridge financing that has a high cost of capital and others are for
clients who are entering these markets for the first time,” Hirt said.

The assets don’t have to be the best in class for their submarkets but have to be dominant assets in strong locations. For example, Mission Capital has been working to arrange financing on retail centers in highly traveled retail corridors including a
loan it arranged for Florence Square, a retail center in Florence, Ala. “The center is well located, adjacent to a Walmart, and is in a heavily trafficked retail corridor,” Hirt said.

Leverage is often in the area of 75-­‐80% for long-­‐term fixed-­‐rate loans, which can be
priced as low as 5-­‐5.5%. One sector that is particularly attractive to lenders is apartment development, where construction loans with an LTV of about 75% are being priced at LIBOR plus 2%.

Still, not all lenders are going into secondary and tertiary markets. “The key is
finding the lender who will go into the market. It’s not like you can call every lender who is doing a loan in Chicago or Los Angeles and see if they will go to Troy, Mich., or Indianapolis,” Hirt said. “But the capital is there and it wasn’t there a couple of years ago.”

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Source: AL.com

Mission Capital Advisors has secured a $5 million loan on behalf of Fairway Capital Partners and Triangle Capital for a busy shopping development anchored by Kmart and T.J.Maxx in Florence.


FLORENCE, Alabama – Mission Capital Advisors says it has secured a $5 million loan on behalf of Fairway Capital Partners and Triangle Capital for a busy shopping development anchored by Kmart and T.J.Maxx in Florence.
The national real estate capital market solutions firm, which operates offices in five states – including Alabama, arranged the long-term, low- interest financing through its debt and equity group.
Gregg Applefield, director of Mission's Debt and Equity Finance Group, said the borrowers acquired the Florence Square property in March in an all-cash deal.
"Mission Capital Advisors arranged the loan to refinance the property so that the borrowers could secure leverage and increase their returns," he said.
The 241,633-square-foot regional shopping center on Cox Creek Parkway is also anchored by Bargain Hunt and Tuesday Morning, according to real estate site CityFeet.com. T.J.Maxx and Kmart have operated at the property for more than two decades.
Founded 12 years ago, Mission Capital Advisors has offices in New York City, Florida, California, Texas and Mobile. The company recently secured financing for two unanchored shopping centers in the Detroit area.

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Source: Real Estate Weekly

Mission Capital debt and equity finance group arranged long-term, low-interest rate financing for a shopping center in Florence, Alabama.

REAL ESTATE WEEKLY

REAL EsTAm WBEKLY WEDNESDAY.JULY 23,2014 B&

TRANSACTIONS

•••

i ion Cap tal Advi-

o debt and equity finance group arranged long-term, low-interest rate financing for a shopping cent r in Florence. A abarna. Gee App field and Wlll SJed worked on the tran action. They· cc d a 5 million loan on behalf of Fairway Capital Partners and Triaogl Capital.

•••

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Source: Mortgage Observer Weekly

Mission Capital Advisor’s debt and equity finance group secured a $14.2 million first mortgage from TD Bank to fund capital improvements on Caesar’s Bay Shopping Center in Gravesend, Brooklyn.

MORTGAGE OBSERVER WEEKLY

Mission Capital

Mission Capital Advisors' debt and cq·

u.it:y finance group secured a Sl4.2 million

first mortgage rrom

TD Bank to rund capi­

Arranges First

Mortgage for Brooklyn

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tal improvements onCaesar'S Bay Shopping Center i n Gravesend, Brooklyn,

Morcg(lge Observer Weeklycan

exclusively report.

The financial advisory firm's Managing

Director Jason Coben arranged the five·

year non·recourse loan at a sub2

rate.The deal closed i n late June.

Mission Capil::ll declined to name the

lender, which mot

the t·rnnsaction provided on backgrou nd.

"We positioned the quntity of the asset

with a strong l:ineupofancbor tenants1 stra· tegic location and strength orthe sponsor to secw·e the most efficient sour<:e of C..'pital,'' Mr. Cohen said."'This will enable theowner toreinvest in the pror>erty, which con tlnues to serve lhe community as a PL'imary retaiJ destination. '

The 294,075-S<t <lllnHootshopping center located at 8973 Bay Parkway is anchored by Toys "R"Us.Kohls, Modell'!;and Best Buystores.
Hurricane Sandy struck the property in October 2012, causing the heaviest damage to the Toys ''R'' Usstore,which reopened in late June 2013.

-DamitmGhigliotty

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Mission Capital Advisors announced that its Debt and Equity Finance Group has arranged long-term, low-interest rate financing for a shopping center in Florence, Alabama.

Media Contact: Mitchell Breindel mbreindel@beckermanpr.com

646-­‐237-­‐6932

FOR IMMEDIATE RELEASE

Mission Capital Advisors Arranges First Mortgage Financing For Florence Square Community Shopping Center in Alabama

MCA Secures Long-­‐Term, Fixed-­‐Rate Financing For Anchored Retail Shopping Center

Florence, Ala. (July 9, 2014) — Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its debt and equity finance group has arranged long-­‐term, low-­‐ interest rate financing for a shopping center in Florence, Alabama.

Gregg Applefield and Will Sledge, members of both Mission Capital’s Commercial Loan Sales team and Debt & Equity Finance Group worked together on the transaction. Mission Capital quickly secured the $5 million loan on behalf of Fairway Capital Partners and Triangle Capital, an example of the firm’s multidisciplined, team approach to providing clients superior service.

Mission Capital successfully positioned the property, called Florence Square, as being in close proximity to northwestern Alabama’s prime retail corridor. Florence Square is anchored by two retailers, TJ Maxx and Kmart, which have both been located at the property for more than 20 years.

Applefield described this deal as another example of Mission Capital’s strength in securing optimal financing for properties in tertiary markets. In addition to this deal, Mission Capital recently secured long-­‐term, low interest rate financing for two unanchored strip shopping centers in the Detroit, Michigan suburbs of Farmington Hills and Troy.

“This deal is a testament to Mission Capital’s creative approach, and depth of reach in the capital markets, further demonstrating our ability to identify a targeted group of lenders and secure financing at superior rates and terms, even in secondary markets where it has been historically very difficult to source capital,” said Applefield.

Applefield added: “Our vast network of contacts and deep knowledge of the market has contributed to our ability to deliver non-­‐recourse, attractive financing as lenders and investors are increasingly focused on opportunities in secondary markets.”

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.

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Mission Capital Advisors announced that its Debt and Equity Finance Group has arranged $14.2 million in first-mortgage financing for Caesar’s Bay Shopping Center in Brooklyn, NY.

Media Contact: Mitchell Breindel mbreindel@beckermanpr.com

646-­‐237-­‐6932

FOR IMMEDIATE RELEASE

Mission Capital Advisors Arranges $14.2 Million First-­‐Mortgage Financing For Caesar’s Bay Shopping Center in Brooklyn

MCA Secures Sub-­‐2% Non-­‐Recourse Loan for Neighborhood Retail Destination

Brooklyn, NY (July 2, 2014) — Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its Debt & Equity Finance Group has arranged $14.2 million in first-­‐ mortgage financing for Caesar’s Bay Shopping Center in Brooklyn, New York.

Located in Brooklyn’s Gravesend neighborhood at 8949 Bay Pkwy, the property is a 294,075 square foot shopping center, anchored by Toys R Us, Kohls, Modells and Best Buy. Plans call for the proceeds of the loan to be used for capital improvements to the property.

Mission Capital Managing Director Jason Cohen arranged the five-­‐year, low-­‐leveraged, non-­‐recourse
loan at a sub-­‐2% rate.

“We positioned the quality of the asset with a strong lineup of anchor tenants, strategic location and strength of the sponsor to secure the most efficient source of capital. This will enable the owner to reinvest in the property, which continues to serve the community as a primary retail destination,” said Cohen. “This deal reflects Mission Capital’s creative approach and relationships with a wide network of lenders, in order to identity the right lender to provide competitive rates and terms,” he added.

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.

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