Southampton Land Cash-Out Refinance

$2,240,000

Southampton, NY

  • Loan Type: Recapitalization Financing
  • Property: 25 acres of undeveloped residential land, subdivided into five lots.
  • Scenario: Proceeds from Trevian's loan were used to pay off existing defaulted debt on the Property, settle a number of personal debts of the Sponsors, and provide a return of equity.
  • Result: Trevian selectively lends on undeveloped land in liquid markets and at a low basis. In this instance, Trevian was able to provide a timely and flexible solution to the sponsors, including a substantial return of cash, in light of the low loan-to-value.

New Haven Multifamiily Cash-Out Refinance

$2,700,000

New Haven, CT

  • Loan Type: Recapitalization Financing
  • Property: Mid-rise multifamily building consisting of 21 units.
  • Scenario: Trevian's loan allowed the sponsor to recapture equity from a recently gut-renovated property in order to commence a similar redevelopment of an adjacent building.
  • Result: Trevian lends on vacant and partially ocupied properties that need to be leased up and seasoned prior to an Agency, HUD, local bank, or CMBS permanent refinance.

Houston Multifamily Portfolio Acquisition Financing

$8,600,000

Houston, TX

  • Loan Type: Recapitalization Financing
  • Property: Two multifamily complexes comprised of 224 garden-style apartment units.
  • Scenario: Trevian's loan provided acquisition financing that allowed the sponsor to preserve a 1031 exchange when conventional lenders were unable to meet a time-of-the-essence closing deadline.
  • Result: Trevian provides speed and certainty of execution to close on tight and inflexible timeframes, which is particularly crucial in the case of 1031 exchanges.

East 87th Street Condo Cash-Out Refinance

$5,000,000

Manhattan, NY

  • Loan Type: Recapitalization Financing
  • Property: Two penthouse condominium units totaling 6,812 square feet.
  • Scenario: Trevian's loan was used to return equity to the sponsor, a foreign national living abroad, who owned the property on an “all-cash” basis.
  • Result: Trevian lends to foreign nationals who are often unable to qualify for conventional debt.

Orlando Multifamily Refinance out of Bankruptcy

$5,200,000

Orlando, FL

  • Loan Type: Refinance out of bankruptcy
  • Property: Multifamily complex comprised of 126 garden-style apartment units.
  • Scenario: Trevian's loan allowed the sponsor, a foreign national living abroad, to exit bankruptcy by paying off a defaulted first mortgage and to settle federal and state tax liens.
  • Result: Trevian is experienced in helping sponsors navigate an exit from bankruptcy and communitcating directly with courts and creditors.

Glendale Multifamily Cash-Out Refinance

$10,700,000

Glendale, AZ

  • Loan Type: Recapitalization Financing
  • Property: Multifamily complex comprised of 200 garden-style apartment units.
  • Scenario: Trevian's loan allowed the sponsor to avert an imminent maturity default on an expiring CMBS loan after a conventional lender exited the transaction shortly before a scheduled closing due to sponsor credit issues.
  • Result: Trevian provides speed and certainty of execution, which is particularly vital on transactions like this, which had to close in four business days.

Carroll Street Single Family Cash-Out Refinance

$5,300,000

Brooklyn, NY

  • Loan Type: Recapitalization Financing
  • Property: Luxury townhouse comprised of 7,636 square feet, eight bedrooms, and six bathrooms.
  • Scenario: Trevian's loan was used to pay off existing debt, return equity to the sponsor, and provide for additional time to market the asset, which recently underwent a $2.5 million renovation.
  • Result: Trevian lends on for-sale or for-investment single family homes and condos, provided they are not primary residences.

East 73rd Street Mixed-Use Recapitalization

$12,350,000

Manhattan, NY

  • Loan Type: Recapitalization Financing
  • Property: Mixed use mid-rise comprised of 13 apartments and five medical offices.
  • Scenario: Trevian's loan was used to refinance a defaulted first mortgage and provide the sponsor, who had recently inherited the property, with time to formulate a business plan.
  • Result: Trevian helps troubled sponsors solve short-term problems and pave the way for a conventional refinance.

Durham Independent Living Recapitalization

$6,075,000

Durham, NC

  • Loan Type: Recapitalization
  • Property: Independent senior living facility comprised of 99 units.
  • Scenario: Trevian's loan was used to refinance an existing senior loan and return equity to the sponsor group, which they used to effectuate the time-of-the-essence acquisition of another senior living conversion project.
  • Result: Trevian can help sponsors access liquidity by providing cash-out refis on low-leveraged assets. This transaction was complicated by the fact that the primary sponsor was party to litigation.

Belleville Self-Storage Recapitalization

$16,500,000

Belleville, NJ

  • Loan Type: Recapitalization Financing
  • Property: 400,000 square foot self-storage and warehouse facility.
  • Scenario: Trevian's loan was used to pay off a matured CMBS loan, fund the build-out of additional self-storage units, and return equity to the sponsor, who was unable to secure conventional financing due to historical litigation.
  • Result: Trevian lends to sponsors whose bankruptcy and/or litigation histories complicate their ability to obtain conventional financing. In instances where permanent financing is unlikely even after the bridge loan, Trevian can facilitate a bridge-to-sale.

Suburban Cleveland Office Recapitalization

$3,700,000

Beachwood, OH

  • Loan Type: Recapitalization Financing
  • Property: Class B office building comprised of 40,000 square feet.
  • Scenario: Trevian's loan was used to pay off a defaulted first mortgage that was in foreclosure.
  • Result: Trevian provides rescue financing to help sponsors save assets from foreclosure. In this case, Trevian helped break a stalemate between the sponsor, existing lender, and anchor tenant.

Memphis Holiday Inn Recapitalization

$10,000,000

Memphis, TN

  • Loan Type: Recapitalization Financing
  • Property: Full service hotel with 256 rooms and 25,000 square feet of meeting and banquet space.
  • Scenario: Trevian's loan was used to pay off matured and defaulted first and second mortgages and to pay off various additional liens and obligations that resulted from a required PIP taking longer to complete and costing more than anticipated.
  • Result: Trevian lends on recently renovated assets that need to be seasoned prior to being refinanced via local bank, agency, CMBS or other conventional sources.

Chrystie Street Development Site Acquisition Financing

$6,750,000

Manhattan, NY

  • Loan Type: Acquisition Financing
  • Property: Development site zoned as-of-right for 16,250 square feet of residential development.
  • Scenario: Trevian's loan was used to acquire the property and carry it through predevelopment until an assemblage with an adjacent lot was consummated and a construction loan obtained.
  • Result: Trevian lends on fully-entitled development sites in core urban-infill locations that need to be bridged until a construction loan can be obtained.

Kansas City Multifamily Acquisition Financing

$1,220,000

Kansas City, KS

  • Loan Type: Acquisition Financing
  • Property: Multifamily complex comprised of 67 garden-style apartment units.
  • Scenario: Trevian's loan was used to finance a time-of-the-essence acquisition following a failed Agency execution.
  • Result: Trevian provides bridge loans on multifamily assets that are not yet ready to be financed with Freddie, Fannie, or FHA loans or that have to be financed very quickly.

Hamptons Residential and New Jersey Retail Portfolio Recapitalization

$9,915,000

Sagaponack, NY and Manahawkin, NJ

  • Loan Type: Recapitalization Financing
  • Property: Luxury single-family home comprised of 9,216 square feet and a 50,390 square foot grocery-anchored shopping center.
  • Scenario: Trevian's loan was used to refiance defaulted first mortgages on both properties.
  • Result: In instances where a sponsor's credit history makes permanent financing unlikely even after the bridge loan, Trevian can provide a bridge-to-sale solution that gives the sponsor enough time to market and sell the asset without urgency.

Duane Street Mixed-Use Refinance and Renovation Financing

$22,000,000

Manhattan, NY

  • Loan Type: Refinance and renovation financing
  • Property: Five-story loft residential building with ground floor and cellar retail space
  • Scenario: Trevian's loan was used to refinance a matured senior mortgage and finance the gut renovation of the property into four residential condominium units with a ground-floor retail condominium.
  • Result: Trevian provides renovation and construction-completion loans to sponsors who have gone over budget or over schedule on their project and need to refinance their existing construction loan for more proceeds and more time.

Phoenix Multifamily Portfolio Refinance Out of Bankruptcy

$13,650,000

Phoenix, AZ

  • Loan Type: Recapitalization Financing
  • Property: Two multifamily complexes comprised of 788 garden-style apartment units.
  • Scenario: Trevian's loan allowed the sponsor to exit bankruptcy on their over-leveraged asset by pulling equity out of the other, lower-leveraged asset.
  • Result: Trevian can help sponsors navigate an exit from bankruptcy and negotiate discounted payoffs from their existing lenders.

Baltimore HUD Multifamily Portfolio Recapitalization

$12,100,000

Baltimore, MD

  • Loan Type: Recapitalization Financing
  • Property: Two mid-rise multifamily properties comprised of 219 HUD Section 8 age-restricted units.
  • Scenario: Trevian's loan allowed the sponsors to buy out an equity partner who was demanding the liquidation of the portfolio.
  • Result: Trevian provides cash-out refis on low-leveraged assets to give sponsors access to liquidity.

Long Island Retail Acquisition and Renovation Financing

$7,700,000

Hicksville, NY

  • Loan Type: Acquisition Financing
  • Property: 31,850 square foot grocery-anchored shopping center.
  • Scenario: Trevian's loan financed the time-of-the-essence acquisition of the property and included funds for the renovation of 9,000 square feet into multi-tenant retail space.
  • Result: Trevian provides short-term and flexible financing to fund capital expenditures, tenant improvements, and leasing commissions associated with new leases.

Sherman and Denison Multifamily Portfolio Recapitalization

$6,125,000

Sherman & Denison, TX

  • Loan Type: Recapitalization Financing
  • Property: Seven multifamily complexes comprised of 269 garden-style apartment units.
  • Scenario: Trevian's loan was used to pay off and consolidate five existing loans on the properties, fund capital improvements, and improve the sponsor’s liquidity and credit position to prepare for Agency debt.
  • Result: Trevian can help sponsors clean up asset-level accounting, repair credit and prepare for a conventional refinance. In this case, Trevian helped the sponsor organize the books and build up adequate liquidity to qualify for a Freddie Mac loan.

Bloomington Mixed-Use Portfolio Recapitalization

$3,100,000

Bloomington, IN

  • Loan Type: Recapitalization Financing
  • Property: 16,000 square foot multi-tenant office building and 8,000 square foot mixed-use retail and multifamily building.
  • Scenario: Trevian's loan was used to pay off a defaulted first mortgage.
  • Result: Trevian can close loans under tight and inflexible timeframes. In this case, the sponsor had to pay off the existing lender by a hard date in order to realize a significant discount.

Jonesboro Holiday Inn Express Refinance Out of Bankruptcy

$3,100,000

Jonesboro, AR

  • Loan Type: Recapitalization Financing
  • Property: Limited service hotel with 102 rooms.
  • Scenario: Trevian's loan allowed the sponsor to exit bankruptcy via a 363 bankruptcy sale that retired two defaulted loans.
  • Result: Trevian lends to sponsors who need to exit bankruptcy and/or distance themselves from a bankruptcy so they can secure conventional financing.

Columbus Multifamily Acquisition and Renovation Financing

$3,125,000

Columbus, OH

  • Loan Type: Acquisition Financing
  • Property: Multifamily complex comprised of 196 garden-style apartment units.
  • Scenario: Trevian's loan was used to finance the time-sensitive acquisition of the property and provide funds for renovations.
  • Result: Trevian lends on value-add multifamily properties that need to be renovated and stabilized before they can be refinanced with Agency, HUD, local bank, or CMBS financing. Trevian works in tandem with Seller-Servicers to facilitate the Agency or HUD exit when applicable.

Raleigh Retail Acquisition and Renovation Financing

$16,450,000

Raleigh, NC

  • Loan Type: Acquisition financing
  • Property: 256,000 square foot grocery-anchored shopping center.
  • Scenario: Trevian's loan financed the acquisition of the property and capitalized the cost of renovations, tenant improvements, and leasing commissions.
  • Result: Trevian lends on value-add properties where structure and flexibility are key. In this transaction, Trevian i) allowed the sponsor to sell off an outparcel simultaneous with closing, ii) gave the sponsor adequate time to execute on the business plan, and iii) limited the minimum interest period to allow the sponsor to pay off as soon as they were able.

Alexandria Hospitality Portfolio Recapitalization

$8,300,000

Alexandria, VA

  • Loan Type: Recapitalization financing
  • Property: Two adjacent limited service hotels with a total of 350 rooms.
  • Scenario: Trevian's loan was used to pay off existing debt and provide a capital infusion to the parent company, a hospitality REIT.
  • Result: Trevian provides cash-out refinancing to sponsors who need to access liquidity in their existing portfolio to use on other projects.

West 28th Street Development Site Acquisition Financing

$29,565,000

Manhattan, NY

  • Loan Type: Acquisition financing
  • Property: Development site zoned as-of-right for 94,000 square feet of residential development.
  • Scenario: Trevian's loan financed the acquisition of the property and provided time for the sponsors to complete predevelopment activities and secure a construction loan.
  • Result: Trevian finances acquisitions and recapitalizations of fully-entitled land in strong urban-infill locations, to bridge until a construction loan can be secured.

250 West Street Condo Acquisition Financing

$2,650,000

Manhattan, NY

  • Loan Type: Acquisition Financing
  • Property: Luxury condominium unit totaling 2,505 square feet.
  • Scenario: Trevian's loan financed the time-sensitive acquisition of the property after the sponsor's untimely loss of employment made conventional financing temporarily unobtainable.
  • Result: Trevian lends on extremely time-sensitive transactions that have to close in two weeks or less. This loan required a six-day closing. Adding to the complexity was the fact that the sponsor was a foreign national.

Illinois and Indiana Multifamily Portfolio Recapitalization

$15,800,000

Elgin, IL and Valparaiso, IN

  • Loan Type: Recapitalization Financing
  • Property: Two multifamily complexes comprised of 322 garden-style apartment units.
  • Scenario: Trevian's loan was used to pay off a matured first mortgage on their over-leveraged asset by pulling equity out of the other, lower-leveraged asset.
  • Result: Trevian provides loans to sponsors who have defaulted on their existing debt and need to stave off foreclosure. Trevian's financing brought the combined LTV below conventional debt capacity in order to provide a clear path for a conventional exit.

Brooklyn Mixed-Use Portfolio Recapitalization

$2,205,000

Brooklyn, NY

  • Loan Type: Recapitalization Financing
  • Property: 6,500 square foot mid-rise apartment building and 4,600 square foot mid-rise apartment building with ground floor retail space.
  • Scenario: Trevian's loan was used to pay off maturing first mortgages that had been sold to an aggressive third party investor who was planning to foreclose on the assets. The sponsor experienced extensive renovation delays when the Department of Buildings shut down the jobsite due to structural concerns.
  • Result: Trevian lends to sponsors who need to act quickly to avoid foreclosure. In this instance, Trevian's loan was also used to complete renovation and lease up the properties.