Deal Showcase

Windward Capital has remained active in today’s turbulent real estate finance market. The recent transactions described below demonstrate our ability to deliver a variety of real estate capital solutions for our clients in a creative and timely manner.

 

  • 20160830_153758

JV Equity Buyout

$8,280,000

Mar Vista, CA

2 year floating rate bridge loan at 6% over 30 day Libor enabling sponsor to buyout JV Equity partner. High leverage 75% loan to “future entitlement” value on two Class C office/retail buildings with month to month tenancy on the Westside of Los Angeles.

Details: 24,000 sf. of retail & office to be demolished for Class A multifamily
Funding Source: Institutional Bridge Lender
Category: Retail, Office, Development


  • pool shot

Newly Stabilized Multifamily Cash Out

$17,650,000

Canoga Park, CA

 
7 year fixed rate at 3.19% for recently stabilized 150 unit apartment building in working class neighborhood of the San Fernando Valley. Sponsor recouped all acquisition, rehab, relocation, and carry costs on the refinancing of the project.

Details: 150 Apartment Units
Funding Source: Money Center Bank
Category: Multifamily


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Office Repositioning Bridge Loan

$10,900,000

West Covina, CA

 
3 year floating rate loan to recapitalize 12% occupied office building in suburban office market. Lender funded 75% loan to cost inclusive of purchase price, capital expenditures, tenant improvements, and interest reserve.

Details: 98,000 SF
Funding Source: Institutional Bridge Lender
Category: Office


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Apartment Building in East LA

$2,100,000

Los Angeles, CA

 
5 year fixed term non-recourse acquisition loan. 75% loan to value for 14 unit apartment building in challenged neighborhood.

Details: 14 Unit Apartment Building
Funding Source: Local Bank
Category: Multifamily


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Shopping Center Foreclosure

$4,460,000

Madera, CA

 
3 year fixed term at 75% loan to purchase on foreclosed property at sub 4% rate and minimal prepayment penalty. Quick close on 34% occupied center with deferred maintenance in tertiary market.
Details: 95,893 SF Retail
Funding Source: Local Bank
Category: Retail


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Retail & Office Foreclosure

$3,900,000

Wintonbury, CT

 
5 year fixed term at 75% loan to purchase on foreclosed property at sub 4% rate. Quick close on 80% occupied center with deferred maintenance.
Details: 110,000 SF Retail & Medical Office
Funding Source: Money Center Bank
Category: Retail & Medical Office


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R&D Semiconductor Facility

$6,600,000

Camarillo, CA

 
10 year fixed term with 7 years interest only achieved on semiconductor R&D facility. Maximized cash on cash return for family office in a 1031 exchange

Details: 69,789 SF R&D Facility
Funding Source: Conduit Lender
Category: Industrial


  • canwood

Suburban Office Cashout

$13,000,000

Agoura, CA

 
10 year fixed rate term cash out refinance on property purchased two years ago. Structure includes declining 3,2,1 prepayment years 1-3 then open with no prepayment year 7-10. Recourse limited to bottom 50% of the loan. Lender was Pacific NW regional bank looking to expand footprint into Southern CA.

Details: Multi tenant office park
Funding Source: Regional Bank
Category: Office


  • kohls ronpak

Kohl’s & Non Credit Warehouse

$20,000,000

Lakewood, CO & Mira Loma, CA

 
10 year fixed term with 7 years interest only achieved by cross-collateralization of Kohl’s investment grade credit with sale leaseback of private manufacture-distributor warehouse. Maximized cash on cash return for family office in a 1031 exchange

Details: NNN single tenant retail & 117,000 sf. warehouse
Funding Source: Conduit Lender
Category: Retail & Warehouse


  • tahoe

Lake Tahoe Hotel Rebranding

$11,000,000

South Lake Tahoe, CA

 
Acquisition bridge loan to purchase and re-brand two adjacent non-flagged properties into a Joie de Vivre boutique lifestyle hotel. Financing obstacles included asset in receivership, limited operating history and market seasonality. 71% loan to total project cost inclusive of $3.5M flexible draw for PIP

Details: 174 Rooms within two adjacent hotels
Funding Source: Specialty Finance Firm
Category: Hotel


  • peery hotel

Historic Hotel Acquisition & Rehab

$7,000,000

Downtown Salt Lake City, UT

 
Acquisition bridge loan to re-brand historic 73 room hotel with dormant banquet service and vacant restaurant.

Details: Historic 73 Room Hotel
Funding Source: Private Hedge Fund
Category: Hotel


  • chesterloop

Grocery Anchored Center Cash Out

$8,100,000

Oildale section of Bakersfield, CA

 
75% ltv cash-out refinance for 80% occupied grocery anchored shopping center built in 1972. Overcame environmental remediation concerns and newly opened Walmart Neighborhood Market less than 1 mile away.

Details: 88,000 SF Grocery Anchored Shopping Center
Funding Source: Foreign Multinational Bank
Category: Shopping Center


  • TransitOrientedDevelopmentParcel-627x646

Transit Oriented Land & Entitlement

$10,200,000

Culver City, CA

 
Acquisition and entitlement bridge loan with time sensitive closing and complex JV ownership structure. 64% LTC with no interest reserve or impounds

Details: 1 acre with existing structure
Funding Source: Debt Fund
Category: Land & Entitlement


  • MetroPlazaRadissonHotel-620

Hotel Recapitalization With New Flag

Phoenix, AZ

 
Acquisition and rehab bridge loan for full service hotel suffering from deferred maintenance and 80’s décor. 73% loan to total project cost inclusive of $3.8M flexible draw for newly flagged Radisson PIP.

Details: 284 Key non-flagged hotel
Funding Source: NYC investment fund
Category: Hotel


  • LeaseholdFinancing-601

Leasehold On Development Project

$9,400,000

Gaslamp District, San Diego, CA

 
Refinancing of leasehold interest to a proposed 317 key Montage Hotel now under construction. 50% loan to value with no subordination of developer lessee’s rights to build and impact the existing cash flowing collateral, a surface parking lot

Details: 45,000 sf. development parcel
Funding Source: Private bank
Category: Leasehold


  • CompassBankPlaza-578x680

DPO Office Portfolio Financing

$18,000,000

Downtown Albuquerque, NM

 
Disounted pay off acquisition financing for sub 80% occupancy office buildings. 92.3% loan to cost with non recourse to first time borrower. 10 month assignment managing DPO process with CMBS servicer and Institutional bridge lender

Details: 2 class “B” office buildings with 347,000 RSF
Funding Source: Debt fund
Category: Office Building


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Townhome Construction Loan

$4,200,000

West Hollywood, CA

 
Non recourse construction financing at 85% loan to cost for 5 luxury townhome condos. Developer’s 1st project since recession end

Details: Construction of 5 luxury townhomes
Funding Source: Finance company
Category: Real Estate Construction


  • BankOfTucson-544x408

Office Acquisition & Repositioning

$7,000,000

Central Tucson Business District, AZ

 
75% loan to cost bridge acquisition financing for 66% occupied office building with marquee tenant (15% of GLA) rolling in 2 years. Flexible draw funding on $950k cap ex & leasing reserve

Details: Off-market Acquisition of 121,398 sf. class “B” office
Funding Source: NYC investment fund
Category: Office Building


  • SouthMonroeCommons

Shopping Center Note Purchase

$2,800,000

Tallahassee, FL

 
Note purchase and perm financing for 78% leased center. 82% loan to cost fixed rate first disbursement with earn-out up upon leasing and renewals

Details: 71,000 sf. grocery anchored shopping center
Funding Source: Money center bank
Category: Shopping Center


  • Schlumberger-619x559

Credit Single Tenant Acquisition

$12,400,000

Houston, TX

 
Acquisition financing at 75% loan to cost. 10 year fixed financing, non recourse for tenant with 100% rollover in 3 years. Structured back ended two tiered rollover reserve based on renewal notification

Details: Class “B” single tenant office building consisting of 155,000 sf.
Funding Source: CMBS investment group
Category: Office Building


  • LosAngelesRetail

Strip Center Retail Portfolio

$7,000,000

Venice & Mar Vista, CA

 
Refinancing of 60% occupied retail structure. Property cross collateralized for credit enhancement with MTM beachfront retail property and Post Office with 7 years remaining on lease

Details: 13,000 sf. retail strip center
Funding Source: Local bank
Category: Retail


  • MultiCityHotel-609x397

Multi City Hotel Portfolio

$23,300,000

Raleigh, NC and Utah

 
Analysis of 5 hotel portfolio for workout with lender on over leveraged assets with upcoming maturity. Recapitalization of 3 aging assets totaling 284 rooms.

Details: 2 Holiday Inn Express and 1 Hampton Inn
Funding Source: CMBS investment group
Category: Hotel


  • ForestMart

Tertiary Retail Center Auction

$1,635,000

Douglasville, GA

 
1st financing from all cash auction sale. 130% loan to acquisition cost with cash out back to Sponsor on 3 month hold. Property suffering from deferred maintenance and located in low income tertiary neighborhood. 100% rollover in next 3 years.

Details: 77,000 sf. local retail center
Funding Source: Money center bank
Category: Shopping Center


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Inner City Apartment Refinance

$26,000,000

Newark, NJ

 
Floating rate loan for workforce housing complex designed by Mies van der Rohe. Property required significant capital expenditures and environmental cleanup.

Details: 680 units constructed in 1960
Funding Source: Freddie Mac
Category: Apartment Housing


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2 State Multifamily Portfolio

$5,250,000

Grand Forks, ND & Billings, MT

 
Refinancing at 75% loan to value 10 year fixed term for HUD section 8 housing with over market rents and high student concentration

Details: 182 Units built in 1972
Funding Source: CMBS investment group
Category: Multi-Family Housing


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1928 Rent Stabilized Apartments

$5,100,000

Beverly Hills, CA

 
75% loan to value for rent stabilized asset built in 1928 and requiring significant capital expenditure. No impounds required for life of the loan

Details: Cash out refinancing of 36 units
Funding Source: CMBS small loan program
Category: Apartment Housing


  • ManhattanPlace-668

5-Story Rent Controlled Bricker

$2,800,000

Mid-Wilshire Los Angeles, CA

 
75% loan to acquisition for 5 story brick building constructed in 1928 and suffering from deferred maintenance with rent controlled tenants. Non recourse with no seismic retrofit requirements.

Details: Acquisition financing of 50 units
Funding Source: Local bank
Category: Apartment Housing


  • 621SGramercyPl

5-Story Rent Controlled Bricker

$2,800,000

Los Angeles, CA

 
Rate and term refinancing highlighting low leverage, non recourse, interest only loan for older asset lacking earthquake retrofitting.

Details: Refinancing of 55 units
Funding Source: Money center bank
Category: Apartment Housing


  • Reynolds

Multi State Apartment Portfolio

$10,300,000

Mississippi & New Jersey

 
Time sensitive debt recapitalization to retire 1st and 2nd mortgages from older tax syndication properties. Challenges included fluctuating tenancy and deferred maintenance.

Details: Refinancing of 336 units
Funding Source: CMBS
Category: Apartment Housing


  • Casa del Mar

Casa del Sol RV Park

$2,800,000

Hemet, CA

 
Perm recapitalization paying off existing 1st and 2nd debt. Total funding included a $350k capital improvement earn out over next 2 years.

Details: Refinancing of 358 spaces
Funding Source: Local Bank
Category: RV Park


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