A national retail developer was over $100MM underwater on a portfolio of assets. He had personally guaranteed most of the $183MM in loans and the situation was so bad that his lawyer advised him to file a personal Chapter 7 bankruptcy.
In 2003 a group of investors purchased a 50-year old office building in Clearwater, FL, as a development site to build ocean-view condos. The investors paid $8.2 million for the property and spent over $2MM in planning and entitlement costs.
The owners of Embassy Plaza faced the loss of their property when their loan matured and they were unable to refinance it. They hired two different law firms to try to restructure their loan.
After spending close to $1MM on lawyers and getting nowhere, the 26 tenant-in-common owners of Met Center 10 came to Breakwater Equity Partners with their troubled investment.
A group of very sophisticated investors took out a $24MM construction loan to build a Southern California shopping center. The completed 75,000 sq. ft. retail space had an original projected value of $36MM, and looked to be a promising investment.
Through no fault of their own, commercial real estate owners are struggling to meet their obligations on commercial real estate loans. Falling property values, unaffordable mortgage payments, and myriad economic forces outside of their control are causing many investors just like you to take a hard look at all of their options. According to recent studies, the commercial real estate market may get worse before it gets better. So is there a solution?
Breakwater Equity Partners is a San Diego-based commercial real estate workout consultancy and investment firm. Through our extensive experience on over 200 engagements with loan values in excess of $3B, the firm has devised a unique, multidisciplinary approach to uncovering and resolving distressed assets. Breakwater’s professional team combines legal, financial, economic, banking, tax, and regulatory expertise to devise customized strategies for each property regardless of market (primary to tertiary), asset class (office, retail, multi-family, industrial, flex, land) or loan type (portfolio or CMBS). We will work on your behalf to accomplish what law firms, CPAs and other commercial loan modification companies cannot - a comprehensive solution and peace of mind.
Breakwater Equity Partners - Your ally during turbulent times
Schedule a confidential consultation today: 858.490.3630