Realinsight Marketplace is slated to hold an online auction in September for the Greenbriar Corporate Center, with an opening bid set at $4.5 million.

By Daniel J. Sernovitz – Staff Reporter, Washington Business Journal
August 27, 2019

An online auction site is slated to open bidding at $4.5 million next month for a Fairfax County office complex that sold during the height of the real estate market in 2006 for nearly five times as much.

RealInsight Marketplace will kick off the auction Sept. 10 on behalf of Mission Capital Advisors LLC. The real estate capital markets firm was brought in by special servicer CWCapital Asset Management to help dispose of the Greenbriar Corporate Center after it was foreclosed on earlier this year. The prior owner of 13135 Lee Jackson Highway, an affiliate of North Bethesda-based Guardian Realty Investors LLC, defaulted on the debt it took out in 2006 to buy the property for $21.4 million, according to loan servicing notes and Fairfax County land records. It is now assessed at nearly $13.6 million.

Representatives for Guardian could not be reached for comment.

Kyle Kaminski, a director with Mission Capital, said he hopes the online auction will tap into a larger pool of investors looking for value-add properties like Greenbriar than traditional marketing would. Greenbriar, located just west of the Route 50 interchange with the Fairfax County Parkway, is a 116,581-square-foot property developed in the mid-1980s.

“I think it’s mostly a function of the market is active right now. There’s lots of groups out there paying good money for deals,” Kaminski said. “The auctions themselves tend to lend themselves well to situations like this, and this one happens to be one that has some positive momentum.”

Commercial real estate firm CBRE, handling leasing for the property, recently inked an 8,700-square-foot lease with Virginia Surgery Associates. As of July 31, Greenbriar was about 77% leased to tenants including Fairfax Pediatrics Associates, Long & Foster Real Estate and Re/Max Premier.

Greenbriar is one of a dwindling number of properties sold or renovated in the lead-up to the Great Recession with debt that was bundled into a larger pool of commercial mortgage-backed securities, or CMBS. Much of that debt has since come due, and many of the properties impacted have either been sold at deep discounts, foreclosed on, or given back to their lenders as deeds in lieu of foreclosure.

The Donohoe Cos. recently resolved the outstanding debt on 4000 Wisconsin Ave. NW, which was threatened with foreclosure, and is forging ahead with a mixed-use redevelopment to be called Upton Place. Douglas Development Corp. earlier this year paid $8.2 million for a Fair Lakes office building that sold in 2006 for $62 million.

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A fully occupied, NNN leased freestanding retail building – currently occupied by franchised fitness chain Crunch Fitness in Tuscaloosa – will sell at auction.

By Stephanie Rebman – Managing Editor, Birmingham Business Journal

Jul 11, 2019

A fully occupied freestanding retail building is hitting the auction block in Tuscaloosa.

The building currently occupied by Crunch Fitness at 3325 McFarland Blvd. E will be up for auction on the RealINSIGHT Marketplace platform July 29-31 via New York City-based Mission Capital Advisors. A CMBS Special Servicer is the seller.

The one-story 42,274-square-foot building was built in 2013 for outdoor retailer Gander Mountain. Crunch, which took occupancy in October 2018, signed a 15-year lease at the 4-acre site.

“The property has excellent frontage in a highly trafficked area of Tuscaloosa, near several main transportation routes and near the University of Alabama,” said Kyle Kaminski, a director with Mission Capital. “Further, Crunch has performed very well in the space since opening and greater market conditions point toward the brand’s continued growth. With the substantial increase in enrollment at the university, and the recent Mercedes Benz expansion, this is a tremendous market to currently be in.”

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Memory Care & Assisted Living Facilities In Loan Portfolio Sales with David Tobin | Principal [Video]

David Tobin, Principal, chats about loan portfolios secured by memory care and assisted living facilities.

In light of the recent termination of Silverado by the Welltower REIT of 20 properties that are standalone memory care facilities, it’s incumbent upon regional, super regional and large community banks to examine their memory care and assisted living loan portfolios and understand the risk embedded in those deals.

In particular, standalone, private-pay, assisted-living and memory care facilities in over-billed markets are particularly prone to default and credit stress. One of the factors contributing to this is the fact that Baby Boom has not caught up with the demand for memory care services as the height peak Baby Boom population is moving through its early to mid-sixties, and memory care demand does not occur until late seventies and early eighties.

Banks should take this opportunity and a highly liquid marketplace to shed assets, which have a higher propensity to default or which have already defaulted. The opportunity to exit portfolios of assisted living and memory care assets is in the marketplace today, and an opportunity may not exist tomorrow.

ABOUT WILLIAM DAVID TOBIN | PRINCIPAL
[Bio]

Under Mr. Tobin’s guidance and supervision, Mission has been awarded and continues to execute prime contractor FDIC contracts for Whole Loan Internet Marketing & Support (loan sales), Structured Sales (loan sales) and Financial Advisory Valuation Services (failing bank and loss share loan portfolio valuation), Federal Reserve Bank of New York (loan sales), Freddie Mac (programmatic bulk loan sales for FHFA mandated deleveraging), multiple ongoing Federal Home Loan Bank valuation contracts and advisory assignments with the National Credit Union Administration.

BACKGROUND

From 1992 to 1994, Mr. Tobin worked as an asset manager in the Asset Resolution Department of Dime Bancorp (under OTS supervision) where he played an integral role in the liquidation of the $1.2 billion non-performing single-family loan and REO portfolio. The Dime disposition program included a multi-year asset-by-asset sellout culminating in a $300 million bulk offering to many of the major portfolio investors in the whole loan investment arena. From 1994 to 2002, Mr. Tobin was associated with a national brokerage firm, where he started and ran a loan sale advisory business, heading all business execution and development.

Mr. Tobin has a B.A. in English Literature from Syracuse University and attended the MBA program, concentrating in banking and finance, at NYU’s Stern School of Business. He has lectured on the topics of whole loan valuation and mortgage trading at New York University’s Real Estate School. Mr. Tobin is a member of the board of directors of H Bancorp (www.h-bancorp.com), a $1.5 billion multi-bank holding company that acquires and operates community banks throughout the United States. Mr. Tobin is a member of the Real Estate Advisory Board of the Whitman School of Management at Syracuse University and a board member of A&M Sports / Clean Hands for Haiti.

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SAN ANTONIO, Texas (Feb. 25, 2018)

Mission Capital Advisors announced that it represented Entrada Partners in the sale and financing of a 484,369-square-foot industrial portfolio in San Antonio, Texas. The Mission Capital team of Will Sledge and Kyle Kaminski arranged the sale on behalf of both Entrada and the seller, a CMBS special servicer. The Mission Capital Debt and Equity Finance team of Alex Draganiuk and Lexington Henn arranged the non-recourse acquisition loan.

The portfolio comprises four properties, three of which are located just inside I-410 in the northwest of the city, and the fourth just minutes away in Leon Valley. The portfolio’s total occupancy is 88 percent. The properties include:

• 7402-7648 Reindeer Trail, a five-building, 251,125-square-foot distribution property

• 1700 Grandstand Drive, a three-building property, which features 59,863 square feet of light industrial / flex space

• 7042 Alamo Downs Parkway, a 27,987-square-foot light industrial / flex property

• 5405 Bandera Road, a 145,394-square-foot distribution center just over the San Antonio border in Leon Valley

“Entrada was purchasing this property from a CMBS special servicer, and we were presented with a very limited timeframe in which to close the acquisition financing,” said Draganiuk. “With four properties serving as collateral and a fair amount of required maintenance, this was a complex deal for lenders to underwrite, but we were able to close a non-recourse loan with a regional bank.”

Added Draganiuk: “By canvassing the capital markets for the best offers, we were able to secure very strong terms for Entrada. The mortgage was structured interest-only for the first several years, and also featured release prices for the different properties, giving Entrada significant flexibility to execute its business plan.”

For Entrada, the four properties were attractive because of their significant upside as well as their geographic location. Headquartered in Los Angeles, the firm has a regional office and significant holdings in San Antonio, and is ideally positioned to unlock the portfolio’s full value.

“The investment represented a fantastic opportunity to expand our presence in the San Antonio market,” said Reuben Berman, founder and partner of Entrada. “We believe San Antonio provides a great investment environment due to its job and population growth, diversified economy, abundant work force and affordable cost of living. San Antonio is the 24th largest MSA in the United States, but has the 3rd highest population growth rate (15.5% between 2010 and 2017). This growth is naturally creating more demand for real estate to live and work in.”

By Timea Matyas | Commercial Property Executive

Entrada Partners Acquires San Antonio Industrial Portfolio

The four properties have a combined 484,369 square feet and an 88 percent occupancy rate. All the assets are close to the Interstate 410 loop.

Entrada Partners has acquired a four-property, 484,369-square-foot industrial portfolio in San Antonio, Texas. Mission Capital Advisors arranged both the sale and the financing of the assets. The portfolio’s total occupancy is 88 percent.
Three of the four assets are located within the Interstate 410 loop, close to the interstate in the northwest area of the city, and all are within 4 miles of Ingram Park Mall. The properties are:

• 7402-7648 Reindeer Trail, a five-building, 251,125-square-foot distribution facility

• 1700 Grandstand Drive, a three-building property which includes 59,863 square feet of light industrial/flex space

• 7042 Alamo Downs Parkway, a 27,987-square-foot light industrial/flex property

• 5405 Bandera Road, a 145,394-square-foot distribution center

Mission Capital Advisors’ Will Sledge and Kyle Kaminski of the asset sales team arranged the transaction on behalf of the seller. Alex Draganiuk and Lexington Henn of the company’s capital debt and equity finance team arranged the non-recourse acquisition loan on behalf of the buyer. In late 2018, the company also arranged a $13 million floating-rate financing for a Chicago retail asset.
“The mortgage was structured interest-only for the first several years, and also featured release prices for the different properties, giving Entrada significant flexibility to execute its business plan,” Draganiuk said in a prepared statement.

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February 14, 2019 | Connect Chicago Commercial Real Estate News

Mission Capital Advisors’ asset sales group is marketing 400 Nave Rd., SE, a 243,000-square-foot industrial property in Massillon, OH net leased to a credit tenant. The firm’s Will Sledge and Kyle Kaminski are marketing the property on behalf of a CMBS special servicer.

The single-story property is fully occupied by A.R.E. Accessories, a manufacturer of fiberglass and aluminum truck caps and covers as well as LED lighting.

“This location serves as A.R.E.’s headquarters, and over the past few years, A.R.E. has made improvements to several portions of the building interior,” said Kaminski. “With a credit tenant demonstrating that level of commitment, this property is likely to maintain its strong cash flow for the foreseeable future.”

The property will be auctioned on the RealINSIGHT Marketplace in early March. “It’s rare to find an investment opportunity like this on a real estate auction platform, and we anticipate significant interest from net-lease buyers,” Kaminski said.

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With 65.7-percent occupancy, property offers investors the opportunity to add value through strategic lease-up

WAITE PARK, Minn. (Feb. 6, 2019) – Mission Capital Advisors, a leading national real estate capital markets solution firm, today announced that its Asset Sales Group is marketing Marketplace Retail and Office Center, a five-building, 121,406-square-foot, mixed-use property located at 110 2nd Street South in Waite Park, Minnesota. The Mission Capital team of Will Sledge, Kyle Kaminski and Tom Karras is marketing the property on behalf of the seller, a CMBS special servicer. The properties will be auctioned on the RealINSIGHT Marketplace platform, with the bidding window opening on March 4 and closing on March 6.

Located in the western portion of the St. Cloud submarket, Marketplace Retail and Office Center consists of a four-story, 88,190-square-foot building containing a mix of retail and office space, and four single-story retail buildings, ranging in size from 1,740 to 19,716 square feet. The property’s total occupancy is 65.7 percent.

“With five separate buildings, and room to build significantly on the property’s existing tenant base, this offering will provide strategic investors with various opportunities to create value,” said Kaminski. “In addition to increasing cash flow by leasing up the vacant space, the buyer will be able to consider a range of other value-add plays, including selling off some of the outparcels, or redeveloping parts of the property.”

The property’s retail tenant mix features several national and retail chains, including Starbucks and Pizza Ranch. The property is shadow-anchored by Dick’s Sporting Goods, Five Below and Fresh Thyme Farmers Market. With its location in the prime retail area of St. Cloud and Waite Park, it is less than a mile from the popular Crossroads Center, offering convenient access to Macy’s, JCPenney, Sears and Target.

“This is the perfect investment for a buyer who combines a creative approach with a strong leasing and management team that can increase the property’s occupancy,” said Kaminski. “With its strong location in the local market, we anticipate significant interest from local and national investors.”

Mission Capital Brings Retail/Office Mix to Market in St. Cloud

February 7, 2019

Mission Capital Advisors’ asset sales group is marketing Marketplace Retail and Office Center, a five-building, 121,406-square-foot, mixed-use property in Waite Park, MN. The team of Will Sledge, Kyle Kaminski and Tom Karras is marketing the property on behalf of a CMBS special servicer.

The properties will be auctioned on the RealINSIGHT Marketplace platform, with bidding between March 4 and March 6.

Located in the western portion of the St. Cloud submarket, not far from the popular Crossroads Center, Marketplace Retail and Office Center includes a four-story, 88,190-square-foot building containing a mix of retail and office space, and four single-story retail buildings. Total occupancy is 65.7%.

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Mission Capital selling five-building mixed-use property in Minnesota

February 7, 2019

Mission Capital Advisors’ Asset Sales Group is marketing Marketplace Retail and Office Center, a five-building, 121,406-square-foot, mixed-use property at 110 2nd St. South in Waite Park, Minnesota. The Mission Capital team of Will Sledge, Kyle Kaminski and Tom Karras is marketing the property on behalf of the seller, a CMBS special servicer.

The properties will be auctioned on the RealINSIGHT Marketplace platform, with the bidding window opening on March 4 and closing on March 6.

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Mission Capital Advisors Marketing 121,406-Square-Foot MN Retail/Office Property

February 11, 2019

WAITE PARK, MN—Mission Capital Advisors, a national real estate capital markets solution firm, is marketing Marketplace Retail and Office Center, a five-building, 121,406-square-foot, mixed-use property located at 110 2nd Street South in Waite Park, MN. The Mission Capital team of Will Sledge, Kyle Kaminski and Tom Karras is marketing the property on behalf of the seller, a CMBS special servicer.

“With five separate buildings, and room to build significantly on the property’s existing tenant base, this offering will provide strategic investors with various opportunities to create value,” says Kaminski. “In addition to increasing cash flow by leasing up the vacant space, the buyer will be able to consider a range of other value-add plays, including selling off some of the outparcels, or redeveloping parts of the property.”</em

“This is the perfect investment for a buyer who combines a creative approach with a strong leasing and management team that can increase the property’s occupancy,” says Kaminski. “With its strong location in the local market, we anticipate significant interest from local and national investors.”

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Leading developer acquires 1.26-acre property with plans to develop
67-unit luxury condominium property

HOUSTON (Jan. 3, 2019) — Mission Capital Advisors announced that its Debt and Equity Finance Group has arranged a $7.3-million non-recourse land loan for the acquisition of 5656 San Felipe Street, a 1.26-acre development site in Houston. The borrower, Houston-based Pelican Builders, is working to finalize plans for an as-of-right, 17-story condominium project, which will include 67 luxury residences and 191 parking spaces. The Mission Capital team of Jason Parker, Steven Buchwald and Alex Draganiuk arranged the financing from a national real estate finance company.

Located at the nexus of the highly desirable Galleria/Uptown and Tanglewood neighborhoods, the 322,708-square-foot property will provide the area with much-needed luxury residential product. Current plans for the development call for 67 well-appointed residences with on-site amenities that include a pool deck, resident lounge, state-of-the-art fitness center and a dog park. The project is expected to break ground in October 2019.

“Pelican is one of most seasoned condo developers in the region, and we received a lot of interest from capital providers interested in providing them with the land loan that will pave the way for the condo development,” said Parker. “With the property’s strong location and the unmet demand for luxury condos in this prime area of Houston, we were able to structure favorable financing with a national real estate finance company.”

With its central location near leading commercial and residential neighborhoods, the development will offer residents easy access to a wide range of shopping and cultural / entertainment options, including Whole Foods, iPic Theater and the Houston Country Club. It is within 1.5 miles of The Galleria, the fourth largest retail complex in the country, with high-end tenants including Saks Fifth Avenue, Nordstrom and Neiman Marcus.

Houston-based Pelican Builders has been active in residential development for more than 40 years. Led by Robert F. Bland, Robert F. Bland, Jr. and Derek Darnell, the company’s portfolio includes more than 2,000 residences, spread across high-rise and mid-rise buildings, townhomes and apartment projects.

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 Alabama. 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 due diligence and valuation. Mission Capital Advisors is extremely active in arranging financing for office, industrial, multifamily, retail and self-storage properties across the country. Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $65 billion of financing and loan sale 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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Well-situated within Amarillo, Texas, existing hotel will be converted into the first dual-branded Marriott and Starwood property

AMARILLO, Texas (Jan., 2019) — Mission Capital Advisors today announced that its Debt and Equity Finance group has arranged a non-recourse, floating-rate loan for the acquisition and renovation of a 229-key hospitality property at 1911 East I-40 in Amarillo, Texas. The existing property, which currently operates as an unflagged hotel, will receive extensive upgrades and be re-created as a dual-branded hospitality property comprising a 106-key Marriott Fairfield Inn & Suites and a 123-key Four Points by Sheraton.

The property renovations will convert the existing hotel into the market’s leading lodging facility, replete with amenities including an outdoor pool, patio deck with grills and a fire pit, and a 24-hour fitness center. Property improvements will include removing the existing atrium, giving a complete facelift to the property’s exterior and large-scale improvements to each guest room.

The Mission Capital team of Raymond Salameh, Ari Hirt, Steven Buchwald, Alex Draganiuk and Jamie Matheny represented Ram Hotels in securing the three-year loan from Stonehill Strategic Capital. In Stonehill, Mission Capital identified a hospitality lender specializing in value-add deals, which was also attracted to the sponsor’s local market expertise. With the lender drawn to the deal’s strong debt yield, Mission Capital was able to structure very strong terms, including 80-percent leverage.

The largest city in the Texas Panhandle, Amarillo is a major transportation hub with the lowest unemployment rate in Texas and a strong economy that is projected to grow in the years ahead. The city also features a significant amount of tourism, with visitors from Texas and beyond flocking to Amarillo for the Tri-State Fair & Rodeo and other cultural events.

The Project will be the first dual-brand conversion between Marriott- and Starwood-branded hotels. With the property’s strong location off of I-40, both hotels are poised to benefit from their proximity to Amarillo’s downtown business district and Amarillo International Airport.

Founded 34 years ago, Ram Hotels is an experienced hotel developer and operator. Since its inception, Ram Hotels has built eight hotels totaling 700 keys throughout Texas, including more than 500 keys in the Amarillo market. Ram currently owns and manages nine hotels totaling 1,500 hotel rooms.

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, Florida, Texas, California, and 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 $65 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.

First-Ever Marriott, Sheraton Hotel Takes Shape in TX

January 14, 2019

The dual-branded hotel in Amarillo, Texas, will be converted from an existing 229-key property. Mission Capital arranged financing for the project on behalf of developer Ram Hotels.

Ram Hotels has secured acquisition and renovation financing to convert an existing hotel in Amarillo, Texas, into the first-ever dual-branded Marriott and Starwood property. The developer will transform the existing 229-key property into a 106-key Marriott Fairfield Inn & Suites and a 123-key Four Points by Sheraton.

Located at 1911 E. Interstate 40, the site is in close proximity to Amarillo’s downtown business district and Amarillo International Airport. The city is the largest in the Texas Panhandle and draws tourists for its events that include the Tri-State Fair & Rodeo.

Amenities at the converted property will feature a 24-hour fitness center, an outdoor pool, patio deck with grills and a fire pit. Additional improvements will include removing the existing atrium, large-scale upgrades to guestrooms and a complete facelift to the property’s facade.

Mission Capital Advisors arranged the non-recourse, floating-rate loan. The team of Raymond Salameh, Ari Hirt, Steven Buchwald, Alex Draganiuk and Jamie Matheny represented Ram Hotels in securing the three-year mortgage from Stonehill Strategic Capital.

Most recently, Marriott rebranded and opened a 186-key Four Points by Sheraton in Toronto.

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Mission Capital Arranges Acquisition Financing for 229-Room Hotel in Amarillo

January 14, 2019

AMARILLO, TEXAS — Mission Capital Advisors has arranged an undisclosed amount of financing for the acquisition and renovation of a 229-room hotel in Amarillo. The new ownership will rebrand the property as a dual-branded asset consisting of a 106-room Marriot Fairfield Inn & Suites and a 123-room Four Points by Sheraton. Renovations will deliver upgraded amenity spaces, as well as a facelift to the property’s exterior and each guestroom. Raymond Salameh, Ari Hirt, Steven Buchwald, Alex Draganiuk and Jamie Matheny of Mission Capital arranged the financing through Stonehill Strategic Capital on behalf of the borrower, Ram Hotels.

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January 2, 2019 – Richmond, ID

Mission Capital Advisors, a national firm, is handling the marketing of the real estate sake of the former Marsh Store, which was sold in a sheriff sale nearly a year ago to Wells Fargo Bank.

Cox Supermarkets, which had operated groceries in the city since the mid-1940s, sold the South E Street site to Marsh in 1999. The 14,730-square-foot building was home to a Marsh store until it closed in March 2017 as the regional grocery chain went under. It’s been vacant since.

The last remaining Marsh store in Richmond, ID, at 501 National Road W., is now called Needler’s, after it was bought along with several others by Ohio-based grocer Fresh Encounter.

According to online property tax records, the assessed valuation for the South E Street property is $230,500.

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December 20, 2018

The Chapel Ridge shopping center in northwest Fort Wayne will take bids on two buildings next month.

New York-based Mission Capital Advisors, working with Fort Wayne’s Sturges Property Group, will accept bids on behalf of the unnamed owner Jan. 8, 2019, according to a statement released Dec. 11. The property is real estate owned.

The property is a two-building, 8-unit, 46,641-square-foot shopping center on a 1.27-acre site near the Interstate 469-Indiana 37 interchange.

The center is shadow anchored by several national tenants including Walmart, Michaels and Kohl’s that draw shoppers into it.

Six tenants currently occupy the property up for bid, including Buffalo Wild Wings, Ziano’s Italian Eatery, Goodwill and a local swim store. Two spaces are vacant.

The majority of leases are set to roll over between 2020 and 2026.

Bids will be accepted at https://market.www.missioncap.com/memo/new?id=0063800000mJCpCAAW.

Former Toast & Jam gets Redemption

Redemption House Executive Director Tomra “Tomi” Cardin got plenty of hugs from a couple of dozens supporters after the Fort Wayne Board of Zoning Appeals on Dec. 13 approved the group opening a second site in a historic house in downtown.

Redemption House’s first location is at 2720 Fairfield Ave., where it has space for 13 women who are former nonviolent offenders referred there by the Allen Superior Court’s Re-entry program and outlying areas. They participate in skills classes, job training and other courses to prepare them to transition back into the community.

The second house is the Bostick-Keim Mansion at 426 E. Wayne St. The added location will allow the program to double its capacity by providing room for another 16 women, according to its application.

The program plans to move into the Queen Anne Victorian built in 1888 after the first of the year. The house has seven bedrooms and three full baths. Some of the features include oak woodwork, five fireplaces and stained-glass windows. The home comes with a three-car garage.

“Residents take care of the home while working jobs,” Mark Bains, an attorney with Barrett McNagny, who was representing the program, told the zoning board.

The program started as Wings of Hope in 2012.

Not all women who are referred to redemption are accepted.

“Residents are well-behaved or they’re not there,” Bains told the zoning board.

Weigand opens South Bend office

Weigand Construction Co., of Fort Wayne, a provider of construction management services, is expanding into north central Indiana with its new office completed earlier this year in downtown South Bend. Weigand’s new office, at 108 N. Main St. on the second floor of the historic JMS building, provides pre-construction, construction management, general contracting and design build services to the local market.

“In recent years, Weigand has been involved in an increasing number of projects in the north central Indiana region,” Jeremy Ringger, Weigand president, said in a statement. “Opening an office in South Bend will allow us to improve upon our existing presence while continuing to provide exceptional service to the Michiana community.”

Weigand recently completed construction of the Angela Athletic and Wellness Complex at Saint Mary’s College, a nursing simulation lab at Bethel College, and the Harris Track & Field Stadium at the University of Notre Dame, all in the South Bend area.

Ongoing projects include the Marshall County Aquatic Center in Plymouth, a 40-bed Vibra Health Rehabilitation Hospital in Mishawaka, the Andreasen Center for Wellness at Andrews University, and a lean-designed beam processing center for Lippert Components in Goshen. All four projects are new construction, and all are scheduled for completion in 2019.

Weigand Construction was founded in 1906 and serves clients throughout the Midwest. It has over 300 skilled tradespeople and annual revenues above $200 million.

The Zacher Company

Fletcher Moppert and Steven Zacher represented the seller, Trelleborg Seal, in the sale of a 48,500-square-foot industrial building at 1151 Bloomingdale Drive in Bristol to 1151 Bloomingdale Drive LLC.

Moppert represented both the landlord, P&A Realty Inc., and the tenant Fastenal in the lease extension of 7,500-square-foot industrial space at 4105 Engleton Drive, Fort Wayne.

Evan Rubin represented the buyer, I.O.O.F Harmony Lodge No. 19 Inc., in the purchase of a 4,912-square-foot office building in Sleepy Hallow Professional Offices at 7325-7327 W. Jefferson Blvd., Fort Wayne.

John Adams represented both the landlord, Boulder Ridge Professional Offices Corp., and the tenant, G6 Communications LLC, in the lease of a 1,680-square-foot office space at 10848 Rose Ave., New Haven.

Joy Neuenschwander and Moppert represented both the landlord, Alea Properties Office I LLC, and the tenant, Larson Financial Group LLC, in the lease of a 1,319-square-foot office space at 7230 Engle Road, Fort Wayne.

Neuenschwander represented the landlord, DCL Scott Corp., and Neuenschwander and Rubin represented the tenant, Long Tail Corp., in the lease extension of a 1,106-square-foot office space at 5738 Coventry Lane, Fort Wayne.

Adams represented the landlord, Harrison/Wayne LLC, in the lease of office space at 203 W. Wayne St., Fort Wayne, to Jarencio Valcarcel.

Bradley Company

Lucas Demel and Steve Chen represented the landlord, BRV‐X LLC, in the lease negotiation of retail space for a wireless tenant at the new Dupont Pointe Shopping Center, 5131 E. Dupont Road.

Demel and Chen represented the landlord, BRV‐X LLC, and the tenant, the Guy’s Place, in the lease negotiation of retail space at the new Dupont Pointe Shopping Center, 5131 E. Dupont Road.

SVN-Parke Group

Diana Parent represented the landlord of the PNC Center and the tenant, Headwaters Park Alliance, in their lease renewal of Suite 2012.

Whitney Peterson represented the landlord of the PNC Center and the tenant, Christopher Alexander, in a new executive suite’s lease for Suite 2102.

Parent represented the seller, Brookside Community Church in the sale of 5.44 acres at 6031 Evard Road.

Troy Reimschisel and Anna Bowman represented BOER Inc., the landlord of 4115 Clubview Drive, in the recent lease of 2,500 square feet of flex space to Franchise World Headquarters LLC.

LISA ESQUIVEL LONG is a freelance journalist who is filing in for Business Weekly Associate Editor Linda Lipp while Lipp is out of the office.

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NEW YORK (Dec. 20, 2018)

Mission Global, a leading mortgage services due diligence business, today announced that it has hired two industry veterans to expand its business development team. The new executives, David Tiberio and Tyler Julian, will both serve as directors at Mission Global and will report to Mission Global Chief Marketing Officer Dwight Bostic.

For Mission Global, the expansion of the business development team is a key part of scaling the company’s growth with the goal of providing its leading due diligence services to a wider portion of the industry. Founded in 2015 through the merger of Mission Capital Advisors’ mortgage services business unit and Global Financial Review, Mission Global has quickly become a single-source solution for institutional clients looking to buy, sell, manage and securitize commercial and residential loans.

“Over the past few years, we’ve worked to expand Mission Global’s services and build out our proprietary technology suite, which has enabled us to provide our clients with an unmatched mortgage services offering,” said Bostic. “David and Tyler both bring Mission Global a wealth of diverse experience across the real estate and financial fields, and the contacts and background they each have will be instrumental to our continued success.”

Tiberio comes to Mission with 30 years of experience across the financial services, mortgage banking and real estate industries. He served most recently as a vice president at LenderLive, a national title agent, where he focused on new business initiatives. Earlier in his career, he served as vice president of national accounts for mortgage servicing / default at First American Title Insurance Company, and held a range of finance, REO portfolio management and mortgage servicing roles at Bank of America.

“With Mission Global’s expertise at providing quality control and due diligence work, we’re able to provide material value to institutional investors buying and selling loans as well as other market participants,” said Tiberio. “With market dynamics changing rapidly, there is a tremendous opportunity for Mission to provide these services to a broader swath of the market, including SFR investors looking to divest of their holdings at the peak of the market. I’m eager to tap into my real estate, financial services and mortgage background to help foster the firm’s continued growth.”

Julian joins the Mission Global team with 30 years of experience, including a financial services and mortgage banking background that covers the entire suite of end-to-end solutions throughout the life of the loan cycle. Julian served most recently as a national sales executive at Old Republic Title, where his primary initiative was focused on the growth of mortgage-related services. Earlier in his career, he was vice president of mid-market sales for First American Title, national sales manager mid-market for LSI/ServiceLink and western regional manager VP of Chase Home Finance.

“Mission Global has built its reputation offering origination services, due diligence, title and collateral services for some of the largest clients in the industry, but a large part of the firm’s success is attributable to the firm’s entrepreneurial and results-driven approach,” said Julian. “With a finger on the pulse of the market and a focus on harnessing the power of technology, Mission Global has repeatedly proven itself adaptable and agile, while providing best-in-class customer service. I look forward to working on expanding Mission Global’s market presence, with a focus on lenders, credit unions and servicers in the west and nationally.”

About Mission Global, LLC

Mission Global, LLC was formed to unite the capabilities of Mission Capital’s mortgage services business with the extensive due diligence services and experience of Global Financial Review, to create a single source solution for investors. Mission Global’s services include data integrity review, collateral document review and cure, curative title work, agency delivery and trade support, due diligence and securitization support, regulatory compliance, origination support, re-underwriting, and forensic reviews. For more information, visit www.missionglobal.com.

MissionCapital View more articles

Why Mission Capital? Featuring David Tobin (Principal)

New York (12/18/2018)

Principal, David Tobin, discusses why customers choose Mission Capital when evaluating service and solutions providers to execute capital raising or asset sale transactions.

OVERVIEW

Customers often ask us why Mission when evaluating service and solutions providers to execute on capital raising or asset sale transactions. The answer to that is threefold. Mission is a diverse platform which focuses on capital raising and on asset sales. So, we have a multi-pronged relationship with the counter-parties that we work with when representing a customer. Number two, we’ve kept the band together for sixteen years. So, Mission’s been growing since it started in 2002. We now have six offices around the country and all of the key managers that started or came to the firm since the beginning of the firm are still with the firm. And number three is that we will out-hustle, out-work and out-think our competition. We’re nimble, we’re intelligent, e have a great team and we are constantly trying to outdo our competitive set.

DAVID TOBIN’S MISSION CAPITAL MILESTONES

William David Tobin is one of two founders of Mission Capital and a founder of EquityMultiple, an on-line loan and real estate equity syndication platform seed funded by Mission Capital. He has extensive transactional experience in loan sale advisory, real estate investment sales and commercial real estate debt and equity raising. In addition, Mr. Tobin is Chief Compliance Officer for Mission Capital.
Under Mr. Tobin’s guidance and supervision, Mission has been awarded and continues to execute prime contractor FDIC contracts for Whole Loan Internet Marketing & Support (loan sales), Structured Sales (loan sales) and Financial Advisory Valuation Services (failing bank and loss share loan portfolio valuation), Federal Reserve Bank of New York (loan sales), Freddie Mac (programmatic bulk loan sales for FHFA mandated deleveraging), multiple ongoing Federal Home Loan Bank valuation contracts and advisory assignments with the National Credit Union Administration.

BACKGROUND

Mr. Tobin has a B.A. in English Literature from Syracuse University and attended the MBA program, concentrating in banking and finance, at NYU’s Stern School of Business. He has lectured on the topics of whole loan valuation and mortgage trading at New York University’s Real Estate School. Mr. Tobin is a member of the board of directors of H Bancorp (h-bancorp.com), a $1.5 billion multi-bank holding company that acquires and operates community banks throughout the United States. Mr. Tobin is a member of the Real Estate Advisory Board of the Whitman School of Management at Syracuse University and a board member of A&M Sports / Clean Hands for Haiti.

MORE ABOUT DAVID TOBIN

www.missioncap.com/team/?member=dtobin

commercial real estate

MissionCapital View more articles

By Daniel J. Sernovitz – Staff Reporter, Washington Business Journal August 27, 2019

By Stephanie Rebman – Managing Editor, Birmingham Business Journal Jul 11, 2019

Memory Care & Assisted Living Facilities In Loan Portfolio Sales with David Tobin | Principal [Video]

ABOUT WILLIAM DAVID TOBIN | PRINCIPAL [Bio]

BACKGROUND

SAN ANTONIO, Texas (Feb. 25, 2018)

By Timea Matyas | Commercial Property Executive

Entrada Partners Acquires San Antonio Industrial Portfolio

The four properties have a combined 484,369 square feet and an 88 percent occupancy rate. All the assets are close to the Interstate 410 loop.

February 14, 2019 | Connect Chicago Commercial Real Estate News

With 65.7-percent occupancy, property offers investors the opportunity to add value through strategic lease-up

Mission Capital Brings Retail/Office Mix to Market in St. Cloud

February 7, 2019

Mission Capital selling five-building mixed-use property in Minnesota

February 7, 2019

Mission Capital Advisors Marketing 121,406-Square-Foot MN Retail/Office Property

February 11, 2019

Leading developer acquires 1.26-acre property with plans to develop 67-unit luxury condominium property

Well-situated within Amarillo, Texas, existing hotel will be converted into the first dual-branded Marriott and Starwood property

First-Ever Marriott, Sheraton Hotel Takes Shape in TX

January 14, 2019

The dual-branded hotel in Amarillo, Texas, will be converted from an existing 229-key property. Mission Capital arranged financing for the project on behalf of developer Ram Hotels.

Mission Capital Arranges Acquisition Financing for 229-Room Hotel in Amarillo

January 14, 2019

January 2, 2019 – Richmond, ID

December 20, 2018

Former Toast & Jam gets Redemption

Weigand opens South Bend office

The Zacher Company

Bradley Company

SVN-Parke Group

Why Mission Capital? Featuring David Tobin (Principal)

OVERVIEW

DAVID TOBIN’S MISSION CAPITAL MILESTONES

BACKGROUND

MORE ABOUT DAVID TOBIN

By Daniel J. Sernovitz – Staff Reporter, Washington Business Journal
August 27, 2019

By Stephanie Rebman – Managing Editor, Birmingham Business Journal

Jul 11, 2019

ABOUT WILLIAM DAVID TOBIN | PRINCIPAL
[Bio]

Leading developer acquires 1.26-acre property with plans to develop
67-unit luxury condominium property