California Mixed-Use Property Recapitalization Financing

$79,000,000

Santa Monica, CA

  • Loan Type: Property Recapitalization Financing
  • Property: Class A, 80,027 square foot office, retail, and parking garage asset.
  • Scenario: Trevian's loan provided tenant improvements and leasing commission capital and runway to lease up and stabilize the property, as the sponsor looks to re-tenant the two vacant office floors on the 12% occupied iconic asset one block off of the Santa Monica Pier.
  • Result: Trevian provides bridge loans nationwide on transitional real estate that needs time and proceeds to reach stabilization.

ALABAMA OFFICE ACQUISITION FINANCING

$75,000,000

Huntsville, AL

  • Loan Type:
  • Property: 98% occupied, 1,000,000+ square foot, Class A & B office portfolio.
  • Scenario: Trevian's loan provided the sponsor with a creatively structured loan with maximum prepayment flexibility after the sponsor added value by renegotiating lease extensions and signing new leases during due diligence.
  • Result: Trevian has extensive experience providing bridge loans in secondary and tertiary markets, and provides sponsors with the certainty of execution they require.

North Carolina Multifamily Recapitalization and Construction-Completion Financing

$54,000,000

Huntersville, NC

  • Loan Type: Recapitalization and Construction-Completion Financing
  • Property: 50% complete, Class A garden style apartment complex, comprised of 297 units.
  • Scenario: Trevian's loan allowed the borrower to recapitalize the construction loan, fund accounts payable, re-establish reserves, fund the balance of construction costs, and provide runway to lease up and stabilize the property via a step down in coupon upon achieving the certificate of occupancy.
  • Result: Trevian provides construction-completion financing on over-budget and over-schedule multifamily projects. In this transaction, the borrower faced municipality mandated changes, extreme weather, and COVID related delays.

Southeast Houston Multifamily Recapitalization

$40,000,000

Houston, TX

  • Loan Type: Recapitalization
  • Property: Garden-style multifamily complex consisting of 856 housing units.
  • Scenario: Proceeds from Trevian's loan were used to payoff existing debt, fund the completion interior renovations, and return equity to the Sponsor.
  • Result: Trevian provides recapitalization financing for partial cash outs and provides Sponsors with additional time to season operations at a lower cost of capital.

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.

Upper East Side Luxury Condominium with Ground-Floor Retail Recapitalization

$26,350,000

New York, NY

  • Loan Type: Recapitalization
  • Property: Luxury 10-unit residential condominium project with ground-floor retail.
  • Scenario: Proceeds from Trevian's loan were used to pay off the previous lender, complete construction, fund an interest reserve and partially pay down a preferred equity position after an expected injection of fresh equity did not take place.
  • Result: Trevian lends to Sponsor's who are in need of recapitalization financing in order to re-establish reserves, complete construction, and/or buy-out or pay-down investors. Trevian is used to moving quickly and can close a construction completion project in as quickly as 2 - 3 weeks.

Harlem Condominium Construction Completion and Inventory Loan

$26,000,000

New York, NY

  • Loan Type:
  • Property: 46-unit luxury residential condominium property with a ground-floor community facility
  • Scenario: Proceeds from Trevian's loan were used to pay off the previous lender, fund an interest reserve, complete construction, and provide a runway to market and sell the units.
  • Result: Trevian lends to sponsor's who are in need of recapitalization financing in order to re-establish reserves, payoff outstanding liens, and complete construction. Trevian allowed a portion of proceeds from initial sales to be used to refill various reserves.

NEW YORK MULTIFAMILY RECAPITALIZATION AND CONSTRUCTION-COMPLETION FINANCING

$25,000,000

New Rochelle, NY

  • Loan Type:
  • Property: 80% complete, 110-unit Class A multifamily complex.
  • Scenario: Trevian's loan enabled the sponsor to buy out a partner to end a lengthy and contentious partnership dispute, paving the way for construction to re-commence.
  • Result: Trevian provides creatively structured, time-of-the-essence recapitalizations on stalled and distressed construction scenarios to bridge properties through completion and lease-up to stabilization.

North Carolina Multifamily Recapitalization and Construction-Completion Financing

$24,500,000

Burlington, NC

  • Loan Type: Recapitalization and Construction-Completion Financing
  • Property: 60% complete, Class A garden style apartment complex, comprised of 183 units.
  • Scenario: Trevian's loan enabled the borrower to pay off the defaulted construction loan, fund accounts payable, re-establish reserves, fund the balance of construction costs, obtain a certificate of occupancy, and provide runway to lease up the property to stabilization via a step down in coupon upon achieving the certificate of occupancy.
  • Result: Trevian provides bridge loans on mid-construction multifamily projects that have gone over schedule and/or budget, and where additional time and proceeds are required.

ARIZONA MULTIFAMILY RECAPITALIZATION, CASH-OUT, AND CONSTRUCTION-COMPLETION FINANCING

$23,500,000

Phoenix, AZ

  • Loan Type:
  • Property: 55% complete, 141-unit, Class A, 'casita style' apartment community.
  • Scenario: Trevian's loan enabled the sponsor to recapitalize their construction loan, lower their cost of capital, recapture equity to put into other development projects, and bridge through completion and stabilization.
  • Result: Trevian provides creatively structured, time-of-the-essence recapitalizations for mid-construction projects, including providing cash out to sponsors.

Nolita – Construction-Completion and Condo Inventory Financing

$23,175,000

New York, NY

  • Loan Type: Inventory Financing
  • Property: 6-unit luxury residential condominium building with ground-floor retail.
  • Scenario: Trevian's loan allowed the Sponsor to pay off his existing debt, fund the completion of construction, and provide runway to market and sell the units.
  • Result: Trevian provides timely construction-completion financing in situations where the existing lender has stopped funding and the Sponsor is faced with large carrying costs and a halted construction project.

Class A Phoenix Multifamily Recapitalization

$23,000,000

Phoenix, AZ

  • Loan Type: Recapitalization
  • Property: A 138-unit, newly-constructed, Class A multifamily complex.
  • Scenario: Trevian's loan provided a lower cost of capital, a partial return of equity to investors, and a replenishment to the interest reserve.
  • Result: Trevian provides funding for additional reserves, partial return of equity, and a lower cost of capital during construction and lease-up.

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.

New Jersey Multifamily Acquisition and Construction-Completion Financing

$21,500,000

Fairview, NJ

  • Loan Type: Completion Financing
  • Property: 50% complete multifamily complex consisting of 111 Class A units.
  • Scenario: Trevian's loan enabled the borrower to purchase the half-built property from a forced seller on a stalled project.
  • Result: Trevian stepped in mid-construction to complete the project and provide the Borrower with adequate runway to lease up and stabilize the property.

Texas Multifamily Recapitalization and Renovation Financing

$19,960,000

Baytown, TX

  • Loan Type: Recapitalization and Renovation Financing
  • Property: Class B garden style multifamily complex comprised of 308 garden style units.
  • Scenario: Trevian's loan paid off the existing bridge loan and provided proceeds to cure the remaining deferred maintenance, upgrade common amenities, finish interior renovations, lease up the property to stabilization.
  • Result: Trevian provides bridge loans on value-add properties, and specializes in speed, certainty of execution, and ease of use.

OKLAHOMA MULTIFAMILY ACQUISITION AND RENOVATION FINANCING

$18,950,000

Oklahoma City, OK

  • Loan Type:
  • Property: Class C multifamily complex comprised of 328 garden-style units.
  • Scenario: Trevian's loan facilitated the sponsor's time-sensitive 1031 exchange to acquire the property and provided a $6.5mm capex budget for the heavy value-add renovation that included interiors, exteriors and new amenities.
  • Result: Trevian lends on value-add multifamily properties that need to be renovated, repositioned and stabilized before they qualify for Agency, local bank, or CMBS refinancing.

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.

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.

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.

NEW MEXICO MULTIFAMILY RECAPITALIZATION AND CASH-OUT REFINANCE

$13,800,000

Albuquerque, NM

  • Loan Type:
  • Property: Class B- multifamily complex comprised of 184 garden-style units.
  • Scenario: Trevian’s loan enabled the borrower to pull out cash from a stabilized asset to use towards a separate time-sensitive multifamily acquisition that was also financed by Trevian.
  • Result: Trevian provides flexible bridge loans with cash-out components and minimum interest periods as short as six months.

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.

Dallas Multifamiy Recapitalization and Renovation Financing

$14,000,000

Dallas, TX

  • Loan Type: Renovation Financing
  • Property: Garden style Multifamily consisting of 264 units.
  • Scenario: Trevian's loan allowed the Sponsor to recapitalize his existing debt, provide cash-out, and continue to reposition the Property.
  • Result: Trevian lends on value-add multifamily properties that need to undergo large renovations and re-tenanting before they can be conventionally refinanced.

Georgia Multifamily Acquisition and Renovation Financing

$13,625,000

Suburban Atlanta, GA

  • Loan Type: Acquisition and Renovation Financing
  • Property: Class C garden style multifamily complex comprised of 238 garden style units.
  • Scenario: Trevian's loan funded the acquisition and renovations of a neglected workforce housing asset with material deferred maintenance, while providing runway to carry the property through lease-up and stabilization.
  • Result: Trevian services its loan in-house and funds capex draws in 1-2 weeks on average.

Pennsylvania Multifamily Portfolio Recapitalization and Construction-Completion Financing

$12,400,000

Philadelphia, PA

  • Loan Type: Portfolio Recapitalization and Construction-Completion Financing
  • Property: Three Class A townhome-style apartment complexes totaling 48 units.
  • Scenario: Trevian's loan recapitalized three maturing construction loans and provided additional funds to complete the last 25% of construction, which the existing bank lenders declined to provide after the borrower pivoted from a condo business plan to multifamily rentals.
  • Result: Trevian provides flexible terms to meet the needs of borrowers who need a creative short-term solution to get them back on track.

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.

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.

Tallahassee Multifamily Construction Completion

$11,200,000

Tallahassee, FL

  • Loan Type:
  • Property: Garden-style multifamily complex consisting of 160 apartment units
  • Scenario: Proceeds from Trevian's loan were used to pay off the existing defaulted loan, replenish the interest reserve, complete the remaining renovation, lease up the property and sell upon stabilization.
  • Result: Trevian works with sponsors who need a lender to step in mid-construction despite previous delays, cost overruns, and changes in scope. Trevian will lend to borrowers who are in default on their existing loans.

Prospect Heights Condominium Recapitalization

$10,950,000

Brooklyn, NY

  • Loan Type: Recapitalization
  • Property: A 13 unit residential condominium project consisting of 13,166 net square feet and 11 parking spots.
  • Scenario: Trevian's loan was used to recapitalize the partnership, complete construction, and market and sell the condo units.
  • Result: Trevian provides financing to help sponsors recapitalize partnerships. In this case, Trevian provided funding to allow the Sponsor to buy out the partnership, complete construction and provide more time to market and sell the condominium units.

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.

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.

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 refinance 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.

Fort Worth Multifamily Acquisition and Renovation Financing

$9,300,000

Fort Worth, TX

  • Loan Type: Renovation Financing
  • Property: Garden-style multifamily complex consisting of 225 units.
  • Scenario: Trevian's loan enabled the borrower to purchase the property, cure deferred maintenance, add amenities, turn over the tenant base, and allow the borrower to self manage.
  • Result: Trevian provides bridge loans nationwide on multifamily assets in need of renovation.

Oklahoma Multifamily Acquisition and Renovation Financing

$8,700,000

Oklahoma City, OK

  • Loan Type: Acquisition and Renovation Financing
  • Property: Class C garden style multifamily complex comprised of 260 garden style units.
  • Scenario: Trevian's loan funded the time-sensitive acquisition and completion of interior renovations and provided runway to clean up pandemic-related delinquencies and stabilize the property.
  • Result: Trevian can expedite the closing process to meet a hard closing deadline. In this transaction, the borrower thought he had 10 days more than was actually available, leading to the time sensitivity.

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.

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.

GEORGIA MULTIFAMILY ACQUISITION AND RENOVATION FINANCING

$8,150,000

College Park, GA

  • Loan Type:
  • Property: Class B- multifamily complex comprised of 165 garden-style units.
  • Scenario: Trevian's loan enabled a first-time sponsorship group to acquire a distressed asset that was only 50% renovated and 50% occupied, and to complete renovations, rebranding, and stabilization.
  • Result: Trevian provides bridge loans to new borrower groups and borrowers with limited experience, with a focus on third-party construction and property management.

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.

TEXAS MULTIFAMILY ACQUISITION AND RENOVATION FINANCING

$7,550,000

Lubbock, TX

  • Loan Type:
  • Property: Two Class C multifamily complexes comprised of 173 garden-style units.
  • Scenario: Trevian's loan allowed a first-time sponsorship group to acquire, renovate, and reposition two undermanaged multifamily complexes that were 81.5% occupied at the time of acquisition.
  • Result: Trevian provides bridge loans nationwide on multifamily assets in need of renovation. Trevian thinks and acts like a partner rather than a lender to help streamline the repositioning process.

Oklahoma Multifamily Acquisition and Renovation Financing

$3,700,000

Oklahoma City, OK

  • Loan Type: Acquisition and Renovation Financing
  • Property: Class C garden style multifamily complex comprised of 98 garden style units.
  • Scenario: Trevian's loan funded the one-week closing of the property and provided funds to facilitate renovation, lease-up, and stabilization.
  • Result: Trevian's ability to provide sponsors with speed, certainty of execution, and transparency makes us a valuable partner on short-term and fast-moving transitional deals.

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.

Arizona Multifamily Acquisition and Renovation Financing

$6,500,000

Tucson, AZ

  • Loan Type: Acquisition and Renovation Financing
  • Property: 98% occupied, Class C multifamily apartment complex comprised of 84 garden style units.
  • Scenario: Trevian's loan funded the time-sensitive acquisition of the property after Freddie Mac downsized their loan offer due to COVID-related delinquencies. The loan included funds for renovations and additional time to lease up and stabilize the property.
  • Result: Trevian is not beholden to generalized underwriting standards, and can create flexible solutions for borrowers in need of a quick and user-friendly execution.

New York Condo Inventory Financing

$6,450,000

Queens, NY

  • Loan Type: Inventory Financing
  • Property: Newly constructed, 10-unit, boutique residential condominium.
  • Scenario: Trevian's loan paid off a maturing construction loan and funded final cosmetic finishes, accounts payable, re-established reserves, and provided additional runway until receipt of TCO, condo plan approval, and sellout of units.
  • Result: Trevian provides construction-completion financing on projects with cost overruns and construction delays.

Indiana Multifamily/Retail Recapitalization Financing

$6,250,000

Indianapolis, IN

  • Loan Type: Recapitalization Financing
  • Property: 64-Unit, Class A midrise apartment building with ground floor retail.
  • Scenario: Trevian's loan, in conjunction with new TIF bonds and fresh equity, refinanced the maturing construction loan and gave the borrower additional runway to season the new management team and stabilize the well-located asset.
  • Result: Trevian provides bridge loans nationwide on value-add and transitional real estate, and can structure and close complex deals within short timeframes.

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.

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.

Brooklyn Heights Townhome Recapitalization

$6,000,000

Brooklyn, NY

  • Loan Type: Recapitalization
  • Property: A 5,974 square foot, six bedroom luxury single family townhome.
  • Scenario: Trevian's time-of-the-essence loan was used to retire the existing bank loan, fund reserves and provide the Sponsor additional runway to properly market and sell the project.
  • Result: Trevian provides funding for a time-of-the-essence closing to retire a maturing existing loan, fund reserves and provide Sponsors with more runway to properly market and sell their assets.

Michigan Industrial Warehouse/Distribution Facility Recapitalization Financing

$6,000,000

Lansing, MI

  • Loan Type: Recapitalization Financing
  • Property: 100% occupied, 270,000 square foot multi-tenant industrial warehouse/distribution facility.
  • Scenario: Trevian's loan paid off an existing bridge loan that was in forbearance, paid outstanding TI/LCs, and gave the borrower additional runway to negotiate long-term leases and either sell or refinance conventionally.
  • Result: Trevian provides bridge loans nationwide on value-add and transitional real estate and is comfortable with 'story deals'.

New Jersey Construction-Completion Financing

$6,000,000

Pompton Lakes, NJ

  • Loan Type: Completion Financing
  • Property: 50% complete multifamily complex consisting of 52 Class A units.
  • Scenario: Trevian's loan capitalized the completion of the construction, which through closing had been financed with equity, and funded the interest reserves.
  • Result: Trevian provides construction-completion financing to Sponsors who need capital to complete their project and lease-up to stabilization.

North Carolina Multifamily Acquisition and Renovation Financing

$5,750,000

Jacksonville, NC

  • Loan Type: Acquisition and Renovation Financing
  • Property: Two-property, multifamily complex comprised of 464 garden-style units.
  • Scenario: Trevian's loan allowed the Sponsor to purchase and renovate a then 40% occupied, poorly managed multifamily complex.
  • 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.

Alabama Multifamily Acquisition and Renovation Financing

$5,500,000

Huntsville, AL

  • Loan Type: Multifamily Acquisition and Renovation Financing
  • Property: Class C garden style multifamily complex comprised of 136 garden style units.
  • 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 value-add multifamily assets in need of renovation. Trevian also has experience navigating environmental remediation and readying a property for conventional refinance.

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.

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 communicating directly with courts and creditors.

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.

Fayetteville Multifamily Acquisition and Renovation Financing

$5,000,000

Fayetteville, NC

  • Loan Type: Acquisition and Renovation Financing
  • Property: Multifamily complex comprised of 120 garden-style units across fifteen buildings.
  • Scenario: Proceeds from Trevian's loan were used to finance the acquisition and renovation of the property after the Sponsor purchased the project via foreclosure.
  • Result: Trevian provides bridge loans on multifamily assets that are not yet ready to be financed with Freddie, Fannie, or FHA loans.

UPPER WEST SIDE CONDO ACQUISITION FINANCING

$4,445,000

New York, NY

  • Loan Type:
  • Property: Luxury duplex condominium unit totaling 3,417 square feet.
  • Scenario: The sponsor, a foreign national, was unexpectedly unable to onshore sufficient funds to close and was at risk of losing an approximately $950,000 earnest money deposit until Trevian provided a debt solution.
  • Result: Trevian lends to foreign nationals who are often unable to qualify for conventional debt and can close quickly to meet the needs of a time-sensitive transaction.

NEW JERSEY MULTIFAMILY ACQUISITION AND RENOVATION FINANCING

$4,250,000

Bergen County, NJ

  • Loan Type:
  • Property: Vacant 30-unit Class B apartment building.
  • Scenario: Trevian's loan enabled the borrower to acquire the property, rebuild the retaining wall and parking lot, renovate unit interiors, and bridge through lease-up and stabilization.
  • Result: Trevian provides creatively structured loans on value-add and/or distressed construction and heavy renovation scenarios on multifamily real estate nationwide.

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.

Ohio Multifamily Acquisition and Renovation Financing

$3,550,000

Euclid, OH

  • Loan Type: Acquisition and Renovation Financing
  • Property: 92% occupied, Class C garden style multifamily complex comprised of 94 units.
  • Scenario: Trevian's loan funded the acquisition and renovation of the property, which included curing of deferred maintenance, exterior and common area renovations, updating units, and energy efficiency upgrades.
  • Result: Trevian lends on value-add multifamily properties, specializing in short-term scenarios where speed, ease of use, and flexibility are paramount.

Georgia Multifamily Recapitalization Financing

$3,450,000

Jackson, GA

  • Loan Type: Recapitalization Financing
  • Property: 97% occupied, Class B- multifamily complex comprised of 68 garden style units.
  • Scenario: Trevian's time-sensitive loan paid off a maturing bridge loan on this renovated and stabilized property after HUD informed the borrower that there would be a six-month delay in processing the HUD loan application.
  • Result: Trevian provides time-sensitive bridge loans to borrowers who need to refinance their existing loans quickly, and need to bridge the gap until Fannie, Freddie, or HUD can provide a permanent loan.

New Jersey Manufactured Housing Acquisition Financing

$4,250,000

Egg Harbor Township, NJ

  • Loan Type: Acquisition Financing
  • Property: 130-pad, 91% occupied, manufactured housing community.
  • Scenario: Trevian's loan facilitated the time-sensitive year-end acquisition deadline for tax purposes and gave the borrower runway to right-size operating expenses.
  • Result: Trevian provides bridge loans nationwide on value-add real estate and can structure and close complex time-sensitive deals.

WEST TEXAS RECAPITALIZATION FOR PARTNER BUYOUT

$3,500,000

Odessa, TX

  • Loan Type:
  • Property: Multifamily complex comprised of 120 garden-style age-restricted affordable housing units.
  • Scenario: Trevian's loan allowed the sponsor, the Odessa Housing Authority, to buy out its equity partner and prevent the forced-sale of its most mission-critical affordable housing asset.
  • Result: Trevian's is comfortable lending to not-for-profit agencies and structuring transactions with complex legal structures including, in this case, land use restriction agreements, ground leases, and reciprocal easement agreements.

Dallas Suburban Office Recapitalization

$3,250,000

Irving, TX

  • Loan Type:
  • Property: Class A & B single-story office buildings comprised of 45,390 square feet
  • Scenario: Proceeds from Trevian's time-of-the-essence loan were used to pay off the existing debt, quickly satisfy accounts payable to keep the general contractor and subcontractors on the job, and fund the balance of the renovation budget.
  • Result: Trevian is experienced in an expediting the process to suit a tight timeframe. Trevian provides cash-out loans for borrowers who need tap equity in their existing properties for renovations or other projects.

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.

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.

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.

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.

Recapitalization and Renovation Financing on Adaptive Commercial Property

$2,700,000

Nashville, TN

  • Loan Type: Recapitalization and Renovation Financing
  • Property: Three-building, 23,954 square foot commercial property.
  • Scenario: Proceeds from Trevian's loan were used to payoff existing debt and fund the completion of construction, tenant improvements and leasing commissions on an 85% pre-leased property.
  • Result: Trevian lends to Sponsor's to pay off existing senior debt, as well as fund construction completion, tenant improvements, and leasing commissions in order to complete the project.

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.

UPDATE NEW YORK MULTIFAMILY ACQUISITION AND RENOVATION FINANCING

$2,450,000

Stanfordville, NY

  • Loan Type:
  • Property: Multifamily complex comprised of 39 apartment units in nine buildings.
  • Scenario: Proceeds from Trevian's loan were used to finance the time-of-the-essence acquisition of the property after the sponsor lacked sufficient credit history to qualify for an agency loan and the property contained an environmental issue.
  • Result: Trevian is well-versed in lending to non-credit worthy borrowers and in environmentally challenged properties. Trevian has deep experience structuring transactions with environmental concerns. In this case, the property has several underground storage tanks requiring an environmental investigation and mitigation.

Multifamily Acquisition and Renovation Financing in Gainesville

$2,400,000

Gainesville, FL

  • Loan Type: Acquisition and Renovation Financing
  • Property: A nine-building multifamily project consisting of 54 housing units.
  • Scenario: Trevian's loan was used to finance a time-of-the-essence acquisition following a pivot from local bank financing.
  • Result: Trevian provides time-of-the-essence closing to Sponsor's who have had last minute business plan changes and are in need of additional time to stabilize operations.

CONNECTICUT RETAIL ACQUISITION FINANCING

$2,250,000

Old Saybrook, CT

  • Loan Type: Acquisition Financing
  • Property: 24,000 square foot free-standing single-tenant NNN leased retail property.
  • Scenario: Trevian provided time-of-the-essence acquisition financing for a year-end closing.
  • Result: Trevian provides speed and certainty of execution for opportunistic investors who need to close on tight and inflexible timeframes.

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.

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.

Chelsea Condominium Recapitalization

$2,200,000

New York, NY

  • Loan Type: Recapitalization
  • Property: An eight-unit luxury residential condominium property consisting of 12,980 square feet.
  • Scenario: Trevian's loan allowed the Sponsor to pay off a matured senior mortgage and complete a condominium conversion.
  • Result: Trevian lends to foreign nationals who are often unable to qualify for conventional debt.

BRADENTON MULTIFAMILY ACQUISITION AND RENOVATION FINANCING

$1,950,000

Bradenton, FL

  • Loan Type: Acquisition Financing
  • Property: Multifamily complex comprised of 46 garden-style apartment units.
  • Scenario: Trevian’s loan was used to finance the time-sensitive acquisition and renovation of the property following a Fannie Mae kick-out.
  • 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 Fannie/Freddie providers to facilitate the Agency or HUD exit when applicable.

Detroit Multifamily Acquisition Financing

$1,700,000

Ecorse, MI

  • Loan Type: Acquisition Financing
  • Property: Multifamily complex comprised of two garden-style apartment complexes totaling 72 units.
  • Scenario: Trevian's loan was used to finance a time-of-the-essence acquisition following a failed Agency execution.
  • Result: Trevian lends on time-sensitive transactions that need surety of closing. The Sponsor needed more time to find an acceptable co-guarantor and secure agency financing.

New Jersey Multifamily Recapitalization

$1,325,000

East Orange, NJ

  • Loan Type: Multifamily recapitalization
  • Property: Multifamily complex comprised of 26 units.
  • Scenario: Trevian’s loan was used to pay off an existing defaulted loan and return equity to the sponsor. Due to a historical bankruptcy, it took time for the sponsor to identify a new lender, by which point the loan had matured and the existing bank commenced foreclosure proceedings.
  • 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.

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.