"Lenders will not refinance a challenged property just because you ask them nicely."
San Diego, CA (PRWEB) December 17, 2013
Breakwater Equity Partners, a commercial real estate restructuring firm, has passed the $4B mark on loan restructuring assignments. The San Diego based firm assists owners in refinancing, recapitalizing and repositioning all asset classes of commercial real estate across the country. Breakwater also co-invests in projects, arranges capital, oversees workouts, and provides loan guarantees.
“We are excited to reach this important milestone,” said Phil Jemmett, Breakwater CEO. “When we started Breakwater four years ago, we knew that there would be heavy demand for commercial loan restructurings. So we developed a unique, four dimensional approach to analyze each investment, predict lender behavior, and implement the right strategy. This approach has been very successful at recovering value for our clients.”
“Early in the process, we realized that uncovering leverage was the only way to get lenders to be cooperative,” said Jack Rose, Chief Strategist at Breakwater. “Unfortunately, lenders will not refinance a challenged property just because you ask them nicely. If you’re going to get a favorable outcome you must understand the type of lender you’re dealing with (CMBS or portfolio), their economic and regulatory constraints, and their distinctive pressure points.”
Now that the economy is recovering, Breakwater is assisting owners in recapitalizing certain specialty assets, including tenant-in-common properties, properties with potential litigation claims and properties with tenant difficulties. “Each investment is different,” explained Jemmett. “We produce an in depth analysis for every one of our clients so that together we can create the optimum strategy. From vetting capital sources to recovering settlement claims, to removing problematic asset managers, to overseeing key tenant negotiations, we work to secure the best value possible for our clients.”
“We could not have reached this goal without the confidence and trust of our clients” said Rose. “We appreciate everyone who made this possible and look forward to assisting borrowers over the next few years as the industry completes its recovery.”
About Breakwater Equity Partners
Breakwater Equity Partners is a San Diego-based commercial real estate advisory, restructuring, and investment firm. Through our extensive experience on over 300 engagements with loan values in excess of $4B, the firm has devised a unique, multidisciplinary approach to analyzing and optimizing the recovery of distressed assets. Breakwater’s professional team combines legal, financial, economic, lender, tax, and regulatory expertise to formulate customized strategies for each property regardless of market (primary to tertiary), asset class (office, retail, multi-family, industrial, flex, land), loan type (portfolio or CMBS), or circumstance (performing or non-performing).
Breakwater Equity Partners, please call 858-490-3630 or visit http://www.breakwaterequity.com.