Case Studies
Case Study: 200+ Unit Kentucky Multifamily Bank-Funded Bridge Loan
A repeat client needed 70% leverage on a heavy-renovation 1970s value-add. The only lenders willing to go that high were quoting SOFR + 275-325. Valencia Realty Capital (VRC) sourced the same leverage in the high 100s over SOFR, with recourse capped at 20%, by finding a bank willing to underwrite the business plan and the sponsor's track record in detail rather than treating the deal as a...
Case Study: $7MM+ Bridge Loan at SOFR + 200-250 for Industrial Acquisition in Asheville MSA
At a Glance Location Asheville MSA Transaction Type Value-add Industrial Acquisition Capital Structure Senior Bridge Property Type Industrial Property Size ~150,000 SQFT Capital Type Bank Cost of Capital SOFR + 200-250 Senior Debt $7,000,000* Leverage 65% Loan-to-Cost* *Approximate figures Overview Valencia Realty Capital (“VRC”) was engaged by an existing sponsor relationship to source senior...
Case Study: $45MM+ Non-recourse Construction Loan for Massachusetts Historic Office to Multifamily Conversion
At a Glance Location Massachusetts Transaction Type Office to Multifamily Conversion Capital Structure Senior Bridge + Construction Debt Property Type Multifamily Property Size 100 Units* Capital Type Private Credit Fund Cost of Capital SOFR + 500-600* Senior Debt $45,000,000* Leverage 80% Loan-to-Cost* (Excludes Tax Credits) *Approximate figures Overview Valencia Realty Capital (VRC) was...
Case Study: $17MM Bridge Facility at 75% LTC for 70’s Vintage Value-Add Acquisition
At a Glance Location South Carolina Transaction Type Light Value-Add Acquisition Capital Structure Senior Bridge Debt Property Type Garden Style Multifamily Property Size 200 Units* Total Capitalization $23,000,000* Cost of Capital SOFR+350* Senior Debt $17,250,000* Leverage 75% Loan-to-Cost Vintage Early 70's *Approximate figures Project Background Valencia Realty Capital (VRC) was engaged by...
Case Study: $15.1MM Senior Stretch Bridge Loan for 110-unit Naples Multifamily Acquisition
Deal Summary Location Naples, FL Transaction Type Acquisition Financing Asset Class Multifamily Capital Structure Senior Bridge Loan Unit Count 110 units Total Capitalization $20,100,000* Senior Debt $15,100,000* (Private Credit Fund) Leverage ~70% Loan-to-Cost *Approximate figures Project Background One of Valencia Realty Capitals (VRC) repeat client relationships recently came across a light...
Case Study: $14.5MM Construction Completion Loan for Martha’s Vineyard Beachfront Development
Deal Summary Transaction Type Construction Loan Takeout & Completion Asset Class 3 Luxury Waterfront Homes Capital Structure Senior Construction Debt Asset Location Martha’s Vineyard, MA Total Capitalization $19,500,000* Senior Debt $14,500,000* (Private Credit Fund) Leverage ~74% Loan-to-Cost *Approximate figures Project Background Valencia Realty Capital (VRC) was engaged by a Boston-based...
Case Study: $35MM+ Senior Perm Loan for Industrial-Flex Refinance in North Carolina
Deal Summary Transaction Type Stabilized Refinance Asset Class Class A Industrial-Flex Capital Structure Senior Debt w/ Earnout Asset Location A Growing North Carolina Market Property Size 350,000+ SF Total Capitalization $50,000,000* Senior Debt $35,000,000* (Regional Bank) Leverage 70% Loan-to-Value *Approximate figures Project Background Valencia Realty Capital (VRC) worked with a...
Case Study: Rapid Preferred Equity Solution for Athens Student Housing Asset
Opportunity Summary Valencia Realty Capital (VRC) recently assisted a client with an urgent capital need for a student housing asset in Athens, Georgia. This case study showcases VRC's expertise in structuring flexible preferred equity solutions and swiftly securing capital to meet time-sensitive requirements. Deal Summary Transaction Type Student Housing Preferred Equity Asset Class Student...
Case Study: 2-Week Recapitalization of 200+ Unit Multifamily Portfolio in Minnesota
At A Glance Valencia Realty Capital (VRC) recently assisted a new client with an emergent capital need for a multi-family portfolio recapitalization. This case study highlights VRC's expertise in navigating complex financing scenarios and swiftly securing capital to meet urgent requirements. Transaction Type 5-property portfolio recapitalization Capital Structured Preferred Equity Capital Amount...
Case Study: $3MM Refinancing for Value-Add Multifamily/Medical Office Asset in Florida
At A Glance Location South Florida Transaction Type Refinance (Bridge-to-Bridge) Capital Structured Senior Bridge Loan Property Type Multifamily/Medical Office Vintage Mid 1980’s Number of units / Property Size 15± MF Units / 15,000± SF Medical Office Total Capitalization $3,300,000* Senior Debt $3,000,000* (Private Lender) Leverage 65% LTV *Approximate figures Project Background Valencia Realty...
Case Study: $14.5MM Private Debt & Equity Capital for SC Multifamily Acquisition, VRC Provides Co-GP Investment
At A Glance Location Coastal South Carolina Transaction Type Value-Add Acquisition Capital Structured Private Senior Bridge Debt & Co-GP Equity Property Type Multifamily (Workforce Housing) Vintage Late 1970’s Number of units / Property Size 100± Units Total Capitalization $16,500,000* GP Equity $1,000,000* LP Equity $1,500,000* Senior Debt $14,000,000* (Private Lender) Leverage 85%...
Case Study: $26MM Structured Financing for Industrial-Flex Acquisition in North Carolina
At A Glance: Location A Growing North Carolina Market Transaction Type Acquisition Capital Structured Senior Debt, Mezzanine, Co-GP Property Type Class A Industrial-Flex (Vacant) Property Size 350,000+ SF Total Capitalization $35,000,000* Common Equity $9,000,000* Mezzanine $8,000,000* (Institutional Asset Manager) Senior Debt $18,000,000* (Private Debt Fund) Leverage 75% Loan-to-Cost...
Case Study: $13MM Limited Recourse Construction Loan for $19MM RV Park Development
At A Glance: Location: Florida Gulf Coast (Punta Gorda MSA) Transaction Type: Construction Capital Type: Senior Loan Property Type: RV Park Total Capitalization: $19.0MM Common Equity: $6.0MM Senior Debt: $13.0MM (70% LTC) Valencia Realty Capital (“Valencia”) was introduced to the client in early 2022 by a mutual contact. The client is a tenured general contractor and property manager in...
Case Study: $2.6MM Preferred Equity for $45.1MM Condominium Development
At A Glance: Location: Boston Area, MA Transaction Type: Development Capital Type: Crossed Preferred Equity Property Type: 50+ Unit Condominium Building with Ground-Floor Retail Total Capitalization: $45,100,000 Common Equity: $4,500,000 Preferred Equity: $2,600,000 (90% LTC) Seller Mezzanine: $3,300,000 Senior Debt: $34,700,000 The Client Valencia Realty Capital (“Valencia”) was introduced to...
Case Study: $7MM Preferred Equity for $73MM Multifamily Acquisition
At A Glance: Location: Greater Houston, TX Transaction Type: Acquisition Capital Type: Preferred Equity (Subordinated Debt) Property Type: 350+ Unit Value-Add Multifamily Total Capitalization: $73,000,000 Common Equity: $14,000,000 Preferred Equity: $7,000,000 (81% LTC) Senior Debt: $52,000,000 The Client The Client is a vertically integrated multifamily real estate investment firm. With asset...
Case Study: $7.2MM Multifamily Construction Loan for Adaptive Reuse of Hotel
At A Glance: Location: Greater New Haven, Connecticut Transaction Type: Acquisition & Construction Capital Type: Senior Bank Loan Property Type: 165-Unit Multifamily Capital Amount: $7,200,000 Total Capitalization: $10,600,000 Common Equity: $3,400,000 Senior Debt: $7,200,000 (68% LTC) The Client Valencia Realty Capital (“Valencia”) was referred to the client by a colleague in the capital...
Case Study: $2.4MM Preferred Equity for $23.1MM Office Building Acquisition
At A Glance: Location: Boston Area, Massachusetts Transaction Type: Acquisition Capital Type: $2,400,000 Preferred Equity Property Type: Value-Add Office Building Total Capitalization: $23,100,000 Common Equity: $3,000,000 Preferred Equity: $2,400,000 (87% LTC) Senior Debt: $17,700,000 The Client Valencia Realty Capital (“Valencia”) was originally introduced to the client in 2017 by a mutual...
Case Study: $20.5MM Structured Financing for Skilled Nursing Portfolio Recapitalization
At A Glance: Location: 3-Site Portfolio, Massachusetts Transaction Type: Recapitalization Capital Type: Interim Bank & Mezzanine Debt for HUD take-out Property Type: Three-building Skilled Nursing Portfolio Capital Amount: $20,500,000 Total Capitalization: $25,800,000 Common Equity: $5,300,000 Mezzanine Debt: $1,500,000 Senior Debt: $19,000,000 The Client Valencia Realty Capital was...
Case Study: Boston Condo Development – 1031 Preferred Equity
At A Glance: Location: Boston, MA Capital Type: Preferred Equity & First Mortgage Construction Loan Property Type: 19-Unit Condominium Development Capital Placed: $8,200,000 Total Cost: $9,100,000 Common Equity: $900,000 Preferred Equity: $1,400,000 Senior Debt: $6,800,000 The Client Valencia Realty Capital originally met with the client in 2014 to discuss capital needs for their new real...
Valencia Realty Capital Arranges $4.5M in Acquisition Financing for Warehouse Facility in Newburyport, Massachusetts
NEWBURYPORT, MASS. — Valencia Realty Capital has arranged $4.5 million in acquisition financing for a cold-storage warehouse facility in Newburyport. The financing covers nearly 100 percent of the acquisition cost. The undisclosed borrower acquired the vacant 89,000-square-foot facility, located at 2 Opportunity Way, from a national REIT. Built in 1994 and expanded in 2008, the property features...
Valencia Realty Capital Arranges $13 Million in Structured Acquisition Financing for 40-Unit Assisted Living Community
Valencia Realty Capital, a provider of flexible, cost-efficient capital for commercial real estate investors and developers, announced that it has arranged $13 million in financing for the $11 million acquisition of a 40-unit assisted living community, known as Evolve at Rye, in Rye, NH. The transaction had a total capitalization of $13.0 million composed of a $10 million senior debt facility...
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