Case Studies: CRE Capital Advisory Solutions.

Four Seasons New Orleans

Business Development Manager

Represented the sponsors to formulate the capital stack for the project, which involved an approximate $290MM construction loan with $56MM in sponsor equity; $46MM from one sponsor and an additional tranche of preferred equity. Redevelopment of this historic iconic New Orleans building was slated for a 2021 opening as the city’s only 5-star hotel. The total project renovation cost is approximately $530MM, and features 92 residences, 341 hotel rooms with full amenities, a pool, ballrooms, and a rooftop observation deck.

Four Seasons New Orleans

Strategic Capital Stack Restructuring Placement

Executed the strategic restructuring of an 18-story, 229,900 SF multi-tenant office tower built in 1966 and renovated in 2007, encumbered by a $22.4MM mortgage at 6.30%. Following direct engagement with the special servicer, we conducted a forensic NPV analysis, market study, and competitive positioning assessment. We then negotiated a $13.8MM discounted payoff - a 38% debt reduction - at a revised 6.50% rate. The result: ownership preserved, bankruptcy avoided, and $8.6MM in savings delivered, underscoring our value-add.

Islandia Shopping Center

CMBS Restructuring

Restructuring of a 376,800-square foot regional shopping center in Islandia, NY, built in 1991. At acquisition, the center was financed with a $73.6MM loan with an rate of 5.70 percent. Negotiated an “A/B Note” split at a new “A” note of $63.5MM and a new “B” (hope) note of $10.1MM, with new interest rates on the A and B notes of 4.25 percent. Negotiated with special server and provided a detailed analysis of the property’s Net Present Value (“NPV”), along with a fundamental market and supply/demand analysis resulted in this successful outcome for our Client.

Edison Retail Center

Discounted Pay-Off ("DPO")

This restructuring involved a multi-tenant retail asset located in Edison, NJ, containing 189,700 square feet, originally constructed in 1985. The acquisition was financed with a $33.10MM mortgage at an interest rate of 6.45 percent. Initial contact was established with the special servicer, and after performing a detailed analysis of the property’s NPV, along with both a fundamental market analysis and a competitive supply and demand analysis, we successfully negotiated a DPO of 50 percent, resulting in $16.6MM in savings to our Client.

Hempstead Retail Portfolio

Multi-Asset Discounted Pay-Off ("DPO")

This restructuring involved two separate properties in Hempstead, NY, containing about 91,000 square feet of retail space, originally constructed in 1939 and 1948. The acquisition was financed with a $16.25MM senior mortgage with a 5.98 percent rate. We negotiated a Discounted Pay-Off (“DPO”) of $10.0MM while simultaneously reducing the interest rate to 5.15 percent. This loan was on a ‘watch list’ for a loan covenant violation. Our efforts saved the property owner $5.65MM while retaining full ownership of both assets and avoiding bankruptcy.