Revere Capital funded a $19,625,000 loan secured by a 360,000 sf retail property in Colorado Springs, CO. The loan was used by the sponsor to purchase its debt at a discount from a mortgage REIT who needed liquidity. The loan also provided a reserve account for future leasing costs.
- Loan was under application with another lender who was unable to fund due to COVID-19 related financing issues. Fortunately, Revere is well-capitalized and was able to close quickly with a creative structure that maximized proceeds
- Revere was able to close this loan in under 15 business days
Revere provided acquisition financing for a 100% occupied retail center in suburban Chicago.
- Revere Capital funded a $6,000,000 loan to acquire the leased fee interest in a 100% occupied 150,000 SF retail center. The property has maintained a strong occupancy history, with national credits including Burlington Coat Factory, Ross, Marshall’s, Dollar Tree, PetSmart, Panera Bread, Sprint, and BMO Harris Bank.
- Simultaneous with the acquisition, the Borrower entered into a 99-year ground lease with in which the Borrower leased the Property to the ground lessee in exchange for a lump sum initial payment and escalating, annual rental payments.
- This is Revere’s sixth loan with this repeat Borrower, who relies on Revere to work quickly in order to make their closing deadlines.
Revere Capital funded a $6,450,000 loan to acquire the leased fee interests in two retail centers anchored by Gold’s Gym, who executed new 15-year NNN leases. Gravois Place (86,931 square feet) is located in Fenton (suburban St. Louis) MO, and The Shops at Walzem (55,526 square-feet) is located in San Antonio, TX.
- Proceeds were used to acquire the properties.
- Simultaneous with the acquisition, the Borrower entered into 99-year ground leases in which the Borrower leased the Properties to the ground lessee in exchange for a lump sum initial payment and escalating, annual rental payments.
- This is Revere’s fifth loan with this repeat Borrower, who relies on Revere to work quickly in order to make their closing deadlines.
- This transaction closed in under 10 days.
Revere Capital funded a loan totaling $20,100,000 secured by two office buildings in Colorado Springs, CO.
- Loan proceeds were used to acquire the properties and capitalize a reserve account for future leasing costs.
- Loan with time needed to negotiate lease extensions with two major tenants that occupy the properties.
- Loan closed just four business days after signed term sheet.
Revere Capital funded a $4,650,000 loan secured by a first lien on 16-unit, 49-bed multifamily property located in Raleigh, NC. Proceeds were used to acquire the property.
- Proceeds enabled the Sponsor to acquire the Property in an expedited time frame
- Property is located in the booming Raleigh market and in close proximity to NC State University
- Transaction closed in under 20 days
Revere Capital funded a $76,000,000 loan secured by a portfolio of industrial assets in Harrison, NJ.
- Properties are located in a prime location, within very close proximity to New York City and allow the rare opportunity for a larger development in this area
- Tenants of the Properties consist of several large, multinational companies
- Sponsor has been in business since the 1950’s and is a mainstay in the city of Harrison
Revere Capital funded $5,500,000 loan for the acquisition of leased fee interest in a 160,000 square-foot retail property sitting on an 18.6-acre lot located in Charleston, West Virginia.
- This is the 4th loan made for this Revere Capital repeat borrower
- Security comes from a 99-year ground lease on the leasehold improvements
- Property is occupied by several national and regional tenants
- Transaction closed in less than one week
Revere Capital funded a $13,750,000 loan secured by a first lien on a mixed-use portfolio in Denton, TX consisting of a 70,000-sf office building and 19 multifamily units.
- Proceeds were used to acquire the property
- Collateral consists of the landmark office property in the downtown Denton area
- Transaction closed in under 5 days. The expedited closing was a result of the Sponsor’s original lender failing to perform and a purchase contract with a hard and fast closing date
Revere Capital funded a $1,500,000 loan secured by a second lien on a Class A, 150-unit apartment property in San Antonio, TX
- Proceeds facilitated a preferred equity partner redemption pursuant to a buy/sell agreement
- Loan subordinate to a senior bank loan
- Closed in three business days after signed term sheet
Revere Capital funded a $3,700,000 loan secured by a first lien on a 22,729 SF parcel in the strong Glendale, CA sub-market of Los Angeles.
- Parcel has recently been up- zoned from office to multifamily
- Property is currently being marketed for sale, with one offer received to-date
- Loan provides additional time for soliciting additional offers and consummation of a sale.