Irving, Texas
142-Unit Multi-Family
$2,150,000 1st Trust Deed
B&A financed the acquisition and improvements required by the Borrower to stabilize an underperforming property in an otherwise stable submarket. Although the occupancy was below stabilization, B&A was able to quickly underwrite the deal based on its knowledge of the market. The Borrower approached B&A to seek more favorable terms than their previous lenders. The loan represented a 68% LTC and funded in 3 weeks.
Encinitas, California
Luxury Condominiums
$15,000,000 1st Trust Deed
B&A Capital Partners financed (at a 75% LTV) the borrower’s purchase of Pacific Station, a 47-unit residential condominium project located on Pacific Coast Highway in Encinitas, CA. The project is the residential component of a mixed-use development which includes the first Whole Foods in North San Diego County as its retail anchor.
Henderson, Nevada
Neighborhood Shopping Center
$3,000,000 1st Trust Deed on REO Purchase
B&A funded this REO acquisition which the Borrower needed to close within 3 weeks of executing the PSA with the Bank seller. This distressed asset was 58% vacant in a challenged retail market; however B&A was able to get comfortable with the borrower’s business plan and ability to execute in leasing up the property.
Los Angeles, California
Multi-Family Complex
$4,000,000 1st Trust Deed
Borrower was seeking flexible, short-term bridge debt while finalizing Bond financing. All of the units are Section 8, providing rent subsidies in the form of Housing Assistance Payments (project based). B&A Capital Partners provided financing at 70% Loan-to-Value on this traditional multi-family asset and successfully closed the transaction in four weeks.
Beaumont, California
RV Self Storage Condominiums
1st Trust Deed on a Note Purchase
The borrower was able to purchase the developer's $5.6MM construction loan at a 40% discount with the assistance of B&A Capital Partners debt financing and subsequently enter into a deed-in-lieu with the developer to obtain Title. The property is a "broken condo" project because 12 of the 108 RV Self Storage Condominium units have already been sold; however B&A Capital Partners agreed to allow partial releases of the remaining units in order to be paid off. B&A Capital Partners was able to successfully supply financing in less than 3 weeks from the point the initial package was received.
Las Vegas, Nevada
112 Unit Multi-Family
1st Trust Deed on a Discounted Note Payoff
The borrowers were able to negotiate a 33% discounted payoff of their existing note but had been unable to secure conventional financing to close the deal. The borrowers had already extended their options to purchase and had 3 weeks before their deposit was forfeited. B&A was successfully able to get comfortable with a challenged product type in a depressed market and fund the loan prior to expiration of the purchase and sale agreement.
Gilbert, Arizona
Commercial Business Park
$4,000,000 1st Trust Deed
with a Tenant Improvement Reserve
The borrower had originally developed office condominiums but with the turn in the economy decided to convert the project to "for lease". As a result the borrower needed a TI Reserve to fund the build-out for future tenants. The existing note-holder agreed to subordinate so the developer could finish the lease-up. B&A Capital Partners successfully supplied a loan and TI Reserve to the borrower in a highly challenged market.
Las Vegas & Reno, Nevada
Two existing neighborhood shopping centers
$6,350,000 1st Trust Deed
The borrower was able to negotiate a short sale with his conventional lender after a maturity default resulting in a significant discount. B&A Capital Partners successfully funded 88% of the discounted note purchase and closed the transaction before the incumbent conventional lender could foreclose on the properties.
Los Angeles, California
264 unit single room occupancy
apartment
$4,900,000 1st Trust Deed
The borrower was in forbearance agreement with their current lender but had an offer to purchase the property – they did not want to conventionally refinance because of the prepayment penalties and were seeking flexible terms. B&A Capital Partners successfully closed the transaction in three weeks.
Austin, Texas
104 Unit Class C, two-story garden style multi-family.
$1,500,000 1st Trust Deed
Borrower’s bank was recently taken over by the FDIC. The Borrower was able to negotiate a discount on the existing note but needed to close within two weeks. B&A was able to underwrite the property, tour the property and fund the loan within 5 Business Days (5 days prior to the FDIC’s expiration date).
Lynwood, CA
60 Unit garden style multi-family.
$2,800,000 1st Trust Deed
Due to the current state of the capital markets the Borrower’s institutional lender froze their line of credit. The Borrower needed to reposition the property and required “cash-out” in order to take care of deferred maintenance and stabilize occupancy. B&A was able to provide 75% Loan-to-Value, and funded with 14 business days.
Chicago, IL
Multi-tenant Industrial building built in 1941.
$800,000 1st Trust Deed
The Borrower needed to improve liquidity in order to continue operations on another business. The property was 50% vacant but B&A was able to fund based on the borrower’s experience and business plan to stabilize.
