Mission Secures $13M Preferred Equity Investment for Shopping Center

January 3, 2014

Source: CityBizList

Mission Capital Advisors announced that its Debt & Equity Finance Group has arranged $13 million in preferred equity financing on a grocery-anchored shopping center in Westchester, N.Y.

Media Contact: John Yocca Beckerman

Mission Capital Advisors Secures $13-Million Preferred Equity Investment For

Grocery-Anchored Shopping Center in Westchester, N.Y.

Real Estate Capital Markets Advisor Leverages Relationship Network and

Property’s Outstanding Collateral to Complete Deal Within Short Timeframe

WESTCHESTER, N.Y. (Jan. 3, 2013) — Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its Debt & Equity Finance Group has arranged $13 million in preferred equity financing on a grocery-anchored shopping center in Westchester, N.Y.
A Mission Capital team led by Director Jonathan More arranged the investment, which was provided by a sophisticated shopping center investment/development firm. In a compact timeframe, the Mission Capital team worked through the deal’s structural issues, and was able to swiftly canvass the market and create a competitive landscape to secure attractively-priced capital at highly competitive terms.
According to More, this ultimate investor was attracted to the shopping center’s high occupancy rate, grocer sales of $1,000 per square foot, superb demographics and irreplaceable infill location. He said the tenant roster has been predominately intact since the property’s original development nearly 30 years ago.
“The investment opportunity precluded the offering of the standard rights and remedies which generally accompany subordinate debt, a nuance which bifurcated the market’s interest,” More said. “Prior to commencing marketing efforts, our team thought creatively as to which types of sophisticated investors would immediately comprehend the property’s overall value in seeing past the structural issues associated with the property capitalization. By tapping into Mission Capital’s vast number of
relationships with a wide range of capital sources, and leveraging the shopping center’s superb collateral, we created a competitive market and transacted at attractive terms within a four-week timeframe.”
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 debt, mezzanine and JV equity placement; commercial and residential loan sales; and loan portfolio valuation. Since its inception, Mission Capital Advisors’ Debt & Equity Finance Group has arranged and structured more than $6 billion of real estate capital investments for some of the nation’s premier owners, investors and developers. Mission Capital’s loan sale platform 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 agency delivery transactions, positioning the firm strongly to provide unmatched financial expertise 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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