Scenario: The proceeds from the first mortgage loan were used to allow the borrower, a foreign national, to exit bankruptcy by paying off his defaulted existing loan and pay off federal and state tax liens.
Result: Trevian navigated the bankruptcy court on behalf of the borrower allowing him to retain ownership and control of his property.
Property: Multifamily – 200 unit garden-style complex
Scenario: The sponsor faced an imminent maturity default under an expiring CMBS loan when another lender exited the transaction due to sponsor credit issues.
Result: Trevian closed the loan in four business days.
Scenario: The proceeds of the loan were used to pay off existing debt, return equity to the sponsor, and provide for additional time to market the asset in order to maximize the sales price. The sponsor recently completed a $2.5 million gut renovation/conversion of the property into a luxury single-family townhouse.
Scenario: Time-Sensitive; sponsor facing imminent maturity default under expiring CMBS loan when another lender exited the transaction due to sponsor credit issues.
Result: Trevian closed the loan in 4 business days.
Property: Mixed Use – 13 residential units and five medical offices
Scenario: The proceeds from the first mortgage loan were used to refinance a defaulted first mortgage. Trevian’s financing gave the sponsor, who recently inherited the property, time to assess whether to renovate/reposition or sell the property as-is.
Result: Trevian Capital closed the loan in three weeks
Property: Independent Living Facility for seniors (55+)
Scenario: The proceeds from the first mortgage loan were used to refinance an existing senior loan and return equity to the sponsor group to effectuate the time-of-the-essence acquisition of another senior living conversion project.
Result: Trevian Capital closed the loan in three weeks
Property: 400,000 square foot self storage and warehouse facility
Scenario: The proceeds of the loan were used to pay off a defaulted securitized loan, fund the build-out of additional self storage units and provide cash out to the sponsor. The sponsor came to Trevian after being turned down from other conventional lenders due to a litigious partnership dispute stemming from a failed crisis-era development project which adversely affected the sponsor’s credit despite strong property-level cash flow.
Property: 256 room, full-service Holiday Inn hotel and conference center adjacent to the Memphis airport
Scenario: The proceeds from the first mortgage loan were used to pay off existing matured and defaulted first and second mortgages, and to pay off various liens and other obligations that resulted from a stalled yet completed $5,000,000 property improvement plan.
Property: As-of-right residential development site
Scenario: First mortgage loan to acquire a 16,250 square foot development site and carry the property through the predevelopment process until an assemblage with an adjacent site is created and a construction loan obtained.
Property: 9,216 SF luxury single-family home and 50,390 SF grocery-anchored shopping center
Scenario: The proceeds from the first mortgage loan were used to refinance defaulted senior loans on both properties. The transaction featured a distressed borrower and a time-of-the-essence payoff.
Property: 5-story loft residential building with ground floor and cellar retail space
Scenario: The loan was used to retire an existing matured senior mortgage and finance the gut renovation of the property into four residential condominium units plus a ground-floor retail condominium.
Property: Multifamily – two properties totaling 788 units
Scenario: Trevian’s loan facilitated the borrower’s exit from bankruptcy by paying off an existing defaulted first mortgage.
Result: On behalf of the Borrower, Trevian successfully negotiated a discount from the existing lender and structured a global settlement in the bankruptcy court that satisfied all creditors.
Property: Multifamily – two HUD-subsidized properties totaling 219 units
Scenario: Trevian’s loan enabled the borrower to resolve a partnership dispute by buying out its equity partner, and doing so in time to avoid forfeiture of management and a forced liquidation of the properties.
Result: Trevian Capital closed the loan in three weeks.
Property: Grocery-anchored (specialty grocer) retail center
Scenario: The proceeds from the first mortgage loan were used to exercise a time sensitive purchase option and to finance the construction of an additional 9,320 SF of retail space.
Property: Multifamily – seven properties totaling 269 units
Scenario: The proceeds of the loan were used to payoff and consolidate five existing loans on the properties, fund capital improvements, and improve the borrower’s liquidity and credit position.
Scenario: The proceeds from the first mortgage loan were used to pay off an existing defaulted mortgage. The existing lender threatened to revoke a $500,000 principal reduction if the existing loan was not paid off by a certain date.
Property: Limited service hotel – 102-room Holiday Inn Express
Scenario: The proceeds from the first mortgage loan were used to recapitalize the Property via a 363 bankruptcy sale in order to retire two defaulted loans.
Scenario: The proceeds from the first mortgage loan were used to acquire the Property in a time sensitive manner via Auction.com and fund the capital expenditures needed to reposition the Property.
Result: Trevian Capital closed the loan in three weeks.
Scenario: The proceeds from the first mortgage loan were used to acquire and upgrade the 256,805 square foot shopping center as well as fund tenant improvements and leasing commissions for newly signed tenants.
Result: Trevian’s loan included 100% of the required capex, tenant improvements and leasing commissions and allowed for a flexible prepayment. In addition, Trevian allowed the borrower to sell a Walgreen’s outparcel simultaneous with closing.
Property: Two adjacent hotels – 150-room Comfort Inn & 200-room Days Inn
Scenario: The proceeds from the first mortgage loan were used in order to recapitalize the properties and to cover a one-time shortfall in operating capital at the corporate entity level, which resulted from a failed organizational change.
Result: Trevian Capital closed the loan in three weeks.
Property: As-of-right residential development site
Scenario: First mortgage loan to acquire an approximately 94,000 square foot development site and to carry the property through the predevelopment process until a construction loan is obtained.
Result: Trevian Capital closed the loan in two weeks.
Scenario: The proceeds from the first mortgage loan were used to facilitate a last-minute closing on a luxury residential condo, avoiding the borrower’s forfeiture of a significant deposit. A few weeks before the scheduled closing, the borrower lost his job as well as the permanent mortgage he had previously secured. Trevian’s attractive basis on sound collateral mitigated the temporary borrower issue.
Result: Trevian Capital closed the loan in six days.
