Property: Single-tenant, owner-occupied, 2,550 square foot car wash located in Southampton, NY.
Scenario: Trevian's loan paid off the maturing debt and allowed the sponsor to avoid foreclosure by paying off a summary judgement.
Result: Trevian provides rescue financing to help sponsors save assets from foreclosure. In this case, Trevian provided a short-term flexible loan to get the sponsor back on track towards a conventional refinance.
Property: 95% occupied, class C apartment complex comprised of 24 units.
Scenario: Trevian’s loan funded the time-sensitive acquisition of the property after the sponsor’s original lender re-priced and resized their loan due to changes in the market just three weeks prior to the hard closing date under the PSA.
Result: Trevian provides bridge loans nationwide on multifamily assets and can close quickly to meet the needs of a time-sensitive acquisition.
Property: Trevian’s loan funded the sponsor’s business plan to fully renovate interiors and exteriors and re-brand the property to raise it from a class C- to a class B asset.
Scenario: Trevian's loan enabled the borrower to purchase the property, cure an environmental issue, renovate unit interiors, make additional exterior and common area repairs, and lease up the property to stabilization.
Result: Trevian provides bridge loans nationwide on multifamily assets in need of large-scale renovation. Trevian thinks and acts like a partner rather than a lender to help streamline the turnaround process.
Property: 51% occupied, Class C multifamily complex comprised of 76 garden style units.
Scenario: Trevian's loan facilitated the acquisition and gut renovation of the entire property from including HVAC, electrical, unit upgrades, roofs, exteriors, amenities, and landscaping.
Result: Trevian provides sponsors who are implementing full repositionings with a seamless execution, open communication with the ability to re-size budgets mid-stream, and a steady cadence during the draw process.
Property: Three Class B+ apartment complexes totaling 23 units and 2,600 SF of ground floor retail.
Scenario: Trevian's loan paid off three maturing construction loans, consolidated debt across the three properties, and provided necessary capital to complete construction, which had experienced pandemic-related delays and cost overruns.
Result: Trevian provides recapitalizations of mid-construction multifamily projects that have gone over schedule and/or budget, and where additional time and proceeds are required.