Mission Capital Advisors Debt & Equity Finance Group arranged a $50 million financing facility for Columbia Pacific Advisors’ real estate lending strategy.
Month: March 2015
Mission Capital Advisors announced that its Debt & Equity Finance Group arranged a $50-million financing facility for Columbia Pacific Advisors’ real estate lending strategy.
Mission Capital Advisors announced that its Debt & Equity Finance Group arranged a $50-million financing facility for Columbia Pacific Advisors’ real estate lending strategy.
Real Estate Forum named Mission Capital’s Mimi Grotto one of their Metro New York “Women of Influence”
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A Chicago bank is offering $166 million of small-balance distressed assets. The bank’s advisor, Mission Capital, has divided the portfolio into three pools. Investors can bid on any combination, and initial bids are due April 7.
The Debt & Equity Finance Group arranged a $50-million financing facility for Columbia Pacific Advisors’ real estate lending strategy.
Media Contact: Shlomo Morgulis Beckerman
201-465-8007 smorgulis@beckermanpr.com
Mission Capital Advisors Arranges $50-Million Financing Facility for
Columbia Pacific Advisors, LLC
SEATTLE, Wash. (March 26, 2015) — Mission Capital Advisors, a leading real estate capital advisory firm, announced that its Debt & Equity Finance Group arranged a $50-million financing facility for Columbia Pacific Advisors’ real estate lending strategy.
The Mission Capital team of Jordan Ray, Ari Hirt, Alex Draganiuk and Axel DeAngelis represented
Columbia Pacific Advisors, LLC in securing the facility from an offshore bank.
Columbia Pacific’s real estate lending strategy is a US-focused, high-yield bridge lending platform. The strategy is comprised of a portfolio of real estate loans with a variety of collateral including senior living, multi-family, retail, office, residential and mixed-use. Columbia Pacific sourced the new capital to fund the increasing demand from high quality real estate owners seeking short-term financing.
“We explored a variety of options for the Sponsor, including revolving warehouse facilities, repurchase facilities, and corporate facilities,” said Draganiuk. “In the end, we were able to structure a financing facility with characteristics similar to a revolver.”
“Columbia Pacific Advisors has decades of experience in valuing real estate assets,” commented Brad Shain, portfolio manager of the strategy. “Our investment process relies on this experience to rapidly deploy bridge financing to a broad cross-section of the real estate sector. We are excited to work with the Mission team to increase our capacity to generate returns for our limited partners.”
About Columbia Pacific Advisors
Columbia Pacific Advisors, LLC manages more than $850 million* across a variety of alternative investment strategies including private real estate, public and private equity, distressed debt and special situation lending. The firm utilizes deep fundamental research to generate compelling, consistent risk-adjusted returns. For more information, please visit www.columbiapacific.com
*Regulatory Assets under Management as of December 31, 2014
About Mission Capital Advisors
Founded in 2002, Mission Capital Advisors, LLC is a leading real estate capital advisory 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 $45 billion of financing and capital markets transactions, positioning the firm strongly to provide capital markets financing and solutions. 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, please visit www.www.missioncap.com.
Mission Capital’s Gregg Applefield comments on the state of secondary and tertiary markets.
The former LSI Corp. headquarters in Pennsylvania’s fast growing Lehigh Valley was recently acquired by Patriot Equities, a real estate development and investment company based in Wayne, PA. Mission Capital Advisors arranged $41 million in acquisition and repositioning financing for the office campus at 1110 American Parkway NE.
Patriot Equities is acquiring 1110 American Parkway, Allentown PA, a 600,000 square-foot class A office campus in Allentown, PA. Mission Capital Advisors says its Debt & Equity Finance Group arranged $41 million in acquisition and repositioning financing for the transaction.
Patriot Equities is acquiring 1110 American Parkway, Allentown PA, a 600,000 square-foot class A office campus in Allentown, PA. Mission Capital Advisors says its Debt & Equity Finance Group arranged $41 million in acquisition and repositioning financing for the transaction.
A Wayne-based real estate investment firm has purchased the former LSI Corp. headquarters off Route 22 in Hanover Township, Lehigh County. Mission Capital Advisors of New York said that its Debt & Equity Finance Group arranged $41 million to finance Patriot’s purchase of the property.
The Debt & Equity Finance Group arranged $41 million in acquisition and repositioning financing for 1110 American Parkway NE, a 563,000-square-foot, Class-A office building in the heart of Pennsylvania’s fast growing Lehigh Valley.
Media Contact: Shlomo Morgulis Beckerman
201-465-8007 smorgulis@beckermanpr.com
DRAFT – NOT FOR RELEASE
Mission Capital Advisors Arranges Nearly Full-Leverage Financing ($41
Million)
for Class-A Lehigh Valley Office Property
Leading Real Estate Advisory Firm Enables Acquisition and Lease-Up of 1110 American Parkway NE in Allentown, PA
ALLENTOWN, Penn. (March 17, 2015) — Mission Capital Advisors, a leading real estate capital advisory firm, announced that its Debt & Equity Finance Group arranged $41 million in acquisition and repositioning financing for 1110 American Parkway NE, a 563,000-square-foot, Class-A office building in the heart of Pennsylvania’s fast growing Lehigh Valley.
The Mission Capital team of Jonathan More, Alex Draganiuk and Axel DeAngelis represented Patriot
Equities on an exclusive basis in securing the financing.
“Our team was tasked with the challenge of arranging full leverage financing on a short-fuse acquisition with 40 days to close. We were also presented with a host of moving parts and unknowns, such as substantive property lease-up during the contract period, including post-lender term sheet execution prior to loan closing, which required additional negotiation and capital source flexibility,” said More. “The Property itself is the top suburban office asset in Pennsylvania. The Sponsor succeeded in tying it up directly off-market at a very attractive basis after 10 years of courting the seller. Patriot Equities’ institutional-quality sponsorship, along with aggressive and exemplary leasing prowess during the contract period, helped our team craft the right story needed to nearly full-leverage financing.”
The 2002-built, Class-A office property was developed by a subsidiary of Lucent, an AT&T joint venture, which spared no expense in creating this best-in-class asset with top-tier infrastructure and amenities. Upon acquisition, Patriot Equities is set to invest approximately $7 million in capital improvements, including renovations to the lobby and common areas. The sponsor will also initiate tenant improvements for the 475,000 square feet of leases negotiated and executed during the contract period.
“With Patriot Equities’ reputation as a premier real estate investor and the excellent condition of this Class-A property, we received significant interest from wide array of capital sources,” said Draganiuk, a Lehigh Valley native with an intimate knowledge of this strategically located submarket and the Lehigh Valley’s continued growth and evolution as an increasingly substantial market. “Ultimately, we were able to effectively portray the story of an extremely attractive investment basis in a well-located, one-of-a-kind asset with top quality institutional sponsorship. This enabled us to successfully arrange very favorable nearly full-leverage financing at an all-in blended interest rate in the mid-single digits with a small equity participation.”
Mission Capital is extremely active in arranging highly structured financing nationally. Recently, the firm
has been very active in the Northeast, Midwest and Western United States. Recent transactions arranged by Mission include financings for three hotels in Chicago; financing for office properties in Manhattan and the Bronx, NY; a multifamily project in Indianapolis; and separate financing for retail shopping
centers in Detroit, Troy and Farmington Hills, Michigan. The firm is also currently arranging financing for large construction and renovation projects in the Northeast and Florida, including a $200MM ground-up non-recourse construction loan and a $25MM office acquisition/renovation loan.
About Mission Capital Advisors
Founded in 2002, Mission Capital Advisors, LLC is a leading real estate capital advisory 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 $45 billion of financing and capital markets transactions, positioning the firm strongly to provide capital markets financing and solutions. 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, please visit www.www.missioncap.com.