The California Distressed Land Assets Fund will invest in discounted US non-performing real estate and mortgages between 2010-2012, focusing on gateway cities. It will be managed by experienced local partners and seek $155 million from investors. The fund expects to achieve high teen to mid twenty returns within 6 years by acquiring distressed assets at discounts, implementing value-add strategies, and exiting properties within 2 years through refinancing or sales.
This document provides an overview of the TREF I investment fund, which focuses on secured first loans for small commercial and non-owner occupied properties in the Chicago area. The fund was founded by investment professionals with over 50 years of combined experience in mortgages and real estate. It aims to provide high and stable income to investors by lending at above-market rates and protecting principal through underwriting and collateral. The managers have extensive experience in commercial lending and mortgage brokering in the Chicago market.
This document describes Opportunity Partners Fund II, LP and its investment strategy. The fund will pursue opportunistic purchases of distressed real estate assets in the Twin Cities area that have been significantly devalued due to the economic downturn and tight credit markets. The general partner has over 100 years of combined real estate experience and successfully executed a similar strategy with Fund I, achieving returns above targets. Fund II seeks $25 million in commitments to continue acquiring undervalued properties with a focus on downside protection and strong potential returns.
Nicholas Financial is rated a BUY with a price target of $16. Key points include:
1) NICK is underleveraged compared to peers and has achieved high returns on equity given its leverage.
2) NICK could be an attractive acquisition target due to its free cash flow, low price-earnings ratio, and Canadian headquarters.
3) The recent sell-off in price was unwarranted and due to risk-arbitrage fund selling, not a change in NICK's investment outlook. NICK remains undervalued relative to peers and warrants a higher price.
The document summarizes the South African mortgage market and the role of securitization in growing the market. It discusses how SA Home Loans launched the first R1.25 billion securitization in 2001, paving the way for further deals. It also outlines the legal structure and funding mechanism for SA Home Loans securitizations, noting how institutional investors have supported deals, lowering funding costs. Size, data quality, resources and market conditions are keys to successful securitization programs.
- Astrum Fund I seeks moderate absolute returns through commercial real estate sale-leaseback transactions with US middle market companies impacted by limited credit markets.
- It focuses on operationally essential real estate and uses a buy-back structure to purchase properties at opportunistic prices and deliver high income and long-term capital appreciation with reduced risk.
- The fund is managed by Astrum Investment Management and leverages their affiliation with a valuation firm to generate proprietary deal flow in the underserved middle market segment.
This document discusses Small Business Investment Companies (SBICs) and mezzanine financing. It provides an overview of the SBIC program, noting that it has provided over $60 billion to small US companies. SBICs make investments of $3 million to $15 million in areas like acquisitions and growth financing. Mezzanine financing sits between senior debt and equity in a company's capital structure, and is commonly used for transactions like acquisitions, growth capital, and dividend recapitalizations. The document provides contact information for Joe Burkhart at Saratoga Investment Corp to discuss SBICs and mezzanine financing further.
- The document is a presentation for Astrum Fund I, which executes sale-leaseback-buyback (SLB3SM) transactions on commercial properties.
- It seeks to purchase properties from middle market companies and lease them back, with an option for the companies to repurchase the properties after 5 years.
- The fund aims to generate moderate absolute returns through high current cash flow while minimizing risk through this investment strategy and proprietary deal flow.
This document provides an overview of the TREF I investment fund, which focuses on secured first loans for small commercial and non-owner occupied properties in the Chicago area. The fund was founded by investment professionals with over 50 years of combined experience in mortgages and real estate. It aims to provide high and stable income to investors by lending at above-market rates and protecting principal through underwriting and collateral. The managers have extensive experience in commercial lending and mortgage brokering in the Chicago market.
This document describes Opportunity Partners Fund II, LP and its investment strategy. The fund will pursue opportunistic purchases of distressed real estate assets in the Twin Cities area that have been significantly devalued due to the economic downturn and tight credit markets. The general partner has over 100 years of combined real estate experience and successfully executed a similar strategy with Fund I, achieving returns above targets. Fund II seeks $25 million in commitments to continue acquiring undervalued properties with a focus on downside protection and strong potential returns.
Nicholas Financial is rated a BUY with a price target of $16. Key points include:
1) NICK is underleveraged compared to peers and has achieved high returns on equity given its leverage.
2) NICK could be an attractive acquisition target due to its free cash flow, low price-earnings ratio, and Canadian headquarters.
3) The recent sell-off in price was unwarranted and due to risk-arbitrage fund selling, not a change in NICK's investment outlook. NICK remains undervalued relative to peers and warrants a higher price.
The document summarizes the South African mortgage market and the role of securitization in growing the market. It discusses how SA Home Loans launched the first R1.25 billion securitization in 2001, paving the way for further deals. It also outlines the legal structure and funding mechanism for SA Home Loans securitizations, noting how institutional investors have supported deals, lowering funding costs. Size, data quality, resources and market conditions are keys to successful securitization programs.
- Astrum Fund I seeks moderate absolute returns through commercial real estate sale-leaseback transactions with US middle market companies impacted by limited credit markets.
- It focuses on operationally essential real estate and uses a buy-back structure to purchase properties at opportunistic prices and deliver high income and long-term capital appreciation with reduced risk.
- The fund is managed by Astrum Investment Management and leverages their affiliation with a valuation firm to generate proprietary deal flow in the underserved middle market segment.
This document discusses Small Business Investment Companies (SBICs) and mezzanine financing. It provides an overview of the SBIC program, noting that it has provided over $60 billion to small US companies. SBICs make investments of $3 million to $15 million in areas like acquisitions and growth financing. Mezzanine financing sits between senior debt and equity in a company's capital structure, and is commonly used for transactions like acquisitions, growth capital, and dividend recapitalizations. The document provides contact information for Joe Burkhart at Saratoga Investment Corp to discuss SBICs and mezzanine financing further.
- The document is a presentation for Astrum Fund I, which executes sale-leaseback-buyback (SLB3SM) transactions on commercial properties.
- It seeks to purchase properties from middle market companies and lease them back, with an option for the companies to repurchase the properties after 5 years.
- The fund aims to generate moderate absolute returns through high current cash flow while minimizing risk through this investment strategy and proprietary deal flow.
Stocks, or shares of stock, represent an ownership interest in a corporation. Bonds are a form of long-term debt in which the issuing corporation promises to pay the principal amount at a specific date.
The document introduces various types of debt financing available to small businesses, including loans, bonds, and convertible debentures. It explains how debt financing works, the differences between debt and equity financing, factors considered in debt financing eligibility like credit ratings and collateral, and tips for applying for debt financing like comparing interest rates and checking prepayment terms. The document is published by LoanXpress, a company that provides corporate financing services.
Astrum Fund I is a private investment fund seeking $50 million to execute sale-leaseback-buyback (SLB3) transactions on commercial properties. It will purchase properties directly from middle market companies and lease them back under long-term leases. The companies will have rights to repurchase the properties after 5 years. The fund aims to generate high current income and total returns of 20% through moderate leverage of up to 60% on properties. It is only available to accredited investors.
The document discusses a case study about Vincent Colmo and Daniel Delconte who partnered to form River Triangle Associates (RTA) to invest in real estate properties. It describes their Steel Street project, a 6-story office building renovation in Pittsburgh that ran into cost overruns and leasing issues. Their options are analyzed, with providing leasing incentives and contributing more equity identified as the best approaches to improve the project returns. Sensitivity analysis is also conducted to understand the impact of variables like vacancy rates, rental rates, costs, and financing changes.
This document discusses various forms of long term debt financing for companies. It describes capital markets which facilitate the trade of securities like stocks and bonds. Private placements involve direct selling of bonds to a small number of qualified institutional investors like banks and insurance companies. Commercial papers are short term unsecured notes issued by large companies and financial institutions with maturities of up to nine months. Corporate bonds are longer term debt instruments issued by corporations to raise funds. Medium term notes have maturities between 5-10 years and combine aspects of commercial papers and corporate bonds.
Veteran Silicon Valley attorney Roger Royse will discuss, compare and contrast the various options available to entrepreneurs when it comes to funding their startup.
The speaker will address some common questions when it comes to funding for startups, including:
1) What are the best funding options for entrepreneurs to scale their business?
2) When should entrepreneurs pursue external funding?
3) How do entrepreneurs choose the right investor?
4) What alternative sources of funding are available?
5) How and why should a founder stage their funding rounds?
6) When should a founder think about exiting?
7) How can advisers help with the funding process?
and more!
The Lenox CFOTM provides comprehensive financial planning services including preparation and implementation of a customized financial plan, estate planning, retirement and cash flow management, asset management, insurance reviews, gifting and college education planning, corporate benefits planning, and ongoing monitoring services. Key services include fact finding sessions, personalized websites for financial planning, estate planning recommendations to minimize taxes, goal modeling and cash flow analysis, asset allocation reviews, insurance coverage reviews, maximizing annual gifts and education savings, and coordinating benefits for business owners.
This document summarizes a presentation about extending a startup's runway through venture debt. It discusses how venture debt can be used to finance growth and product delays. Venture debt typically has a 6-12 month interest-only period followed by principal repayment over 30-36 months, with interest rates in the mid-single digits to low double digits. Lenders consider the probability of future equity financing and enterprise value when assessing risk. The document also outlines working capital lines of credit, recurring revenue lines of credit, and alternative financing options like bridge loans.
This chapter discusses the goals and governance of corporations. It introduces corporations and describes them as business entities owned by shareholders. The chapter also discusses the roles of financial managers and how they make investment and financing decisions. It covers topics like the benefits and drawbacks of corporations, the goals of maximizing shareholder wealth, and how agency problems can arise between managers and shareholders.
Debt refers to funds that a company owes to another entity that must be repaid within a specific term. Equity refers to funds raised by issuing shares to the public that can remain invested in the company long-term as ownership. Key differences are that debt is borrowed while equity is owned, debt carries obligation to repay while equity represents ownership, and debt has fixed regular interest payments while equity dividends are variable and irregular. Maintaining a balanced ratio between debt and equity, typically with equity twice that of debt, helps companies cover potential losses.
General introductory information regarding Midwest Housing and the Low Income Housing Tax Credit. Information regarding using the Low Income Housing Tax Credit to assist in meeting CRA requirements.
Long term financing refers to raising funds for a period of more than 5 years to finance long term assets like plant, machinery, buildings, etc. The key sources of long term financing are equity shares, preference shares, debentures, term loans, internal accruals. Equity shares provide flexibility but dilute ownership, while preference shares are less risky but more expensive. Debentures and term loans are popular debt instruments that provide tax benefits but also repayment obligations and restrictions. Internal accruals have advantages of no dilution or issue costs but quantities are limited. Companies can raise long term funds through public offers, rights issues, private placements or venture capital/private equity.
This document discusses various topics related to equity valuation and stock markets, including the dividend discount model for valuing stocks, primary and secondary markets, common terminology such as market capitalization and P/E ratio, and different approaches to analyzing stocks like fundamental analysis and the efficient market hypothesis. Key valuation techniques introduced are the dividend discount model under different growth scenarios as well as valuing the present value of growth opportunities.
The document discusses a proposed merger transaction between W. P. Carey & Co. and CPA®:15. It notes that W. P. Carey will first convert to a REIT and then acquire CPA®:15 in an all-stock and cash deal. The combined company is expected to have increased scale, liquidity, and income from owned properties. The transaction is anticipated to close in Q3 2012 and provide benefits for both companies and their shareholders.
Banco Pine - Institutional Presentation 4Q12Banco Pine
PINE is a Brazilian bank specialized in providing financial solutions to wholesale clients. In 2012:
- Total credit risk grew 12.5% to R$7.948 billion while total funding grew 7.9% to R$6.544 billion.
- Shareholders' equity increased 20.2% to R$1.015 billion.
- Fee income grew 96.7% to R$120 million and net income grew 15.4% to R$187 million.
- Return on average equity was 17.9%, an increase of 70 basis points from 2011.
Companies can raise capital through either debt or equity financing. Debt financing involves taking a loan that must be repaid with interest, while equity financing involves selling ownership stakes in the company. There are several pros and cons to each approach. Debt is generally easier to obtain but subjects the company to fixed repayment obligations, while equity does not require repayment but dilutes ownership and control of the company. The best financing structure depends on the specific needs and risks involved for each business.
2016 Mark Barbash Financing Presentation Copy Colorado FINALMBEDC, LLC
This document provides an overview of economic development financing. It discusses understanding the business and project, identifying private and public financing options, determining any financing gaps, and structuring deals. Private financing sources include banks, venture capital, and capital markets. Public programs include direct loans, loan guarantees, tax-exempt bonds, tax incentives, and intermediary programs. The document outlines steps in the financing process and principles for working with private and public financing.
Corporate Finance Basics for Directors and ShareholdersMercer Capital
The purpose of the presentation is to provide directors and shareholders with a conceptual framework and vocabulary to help contribute to answering the three fundamental questions.
This document discusses various types of external sources of finance for companies, including shares and preference shares. It provides details on what shares are, the different types of shares (equity/ordinary shares), rights that come with shares like voting rights and claims on profits/assets. It also discusses the merits and demerits of equity financing for both companies and shareholders. Preference shares are also covered, outlining the four types and merits for companies and shareholders as a source of finance, as well as some disadvantages.
The document summarizes a fund that provides senior loans secured by real estate assets to professional real estate developers and investors. The fund focuses on loans for value-add real estate projects located primarily in the western US. It aims to preserve capital while achieving solid risk-adjusted returns through a strong credit focus, limiting loans to 65% LTV, and requiring significant equity contributions from borrowers. The fund is managed by an experienced team with a successful track record and uses an independent investment committee to review loans.
This document summarizes an investment opportunity in a real estate lending fund. The fund will provide short and long term loans to purchasers of distressed single family homes in California to buy, rehabilitate, and hold as rental properties. The fund aims to generate returns through interest payments on the loans as well as equity positions in the properties through shared appreciation mortgages. The fund is seeking $100 million and expects to achieve a 15.08% internal rate of return over its 5 year term. It is managed by an experienced team that achieved above market returns in a prior fund during the real estate downturn.
Stocks, or shares of stock, represent an ownership interest in a corporation. Bonds are a form of long-term debt in which the issuing corporation promises to pay the principal amount at a specific date.
The document introduces various types of debt financing available to small businesses, including loans, bonds, and convertible debentures. It explains how debt financing works, the differences between debt and equity financing, factors considered in debt financing eligibility like credit ratings and collateral, and tips for applying for debt financing like comparing interest rates and checking prepayment terms. The document is published by LoanXpress, a company that provides corporate financing services.
Astrum Fund I is a private investment fund seeking $50 million to execute sale-leaseback-buyback (SLB3) transactions on commercial properties. It will purchase properties directly from middle market companies and lease them back under long-term leases. The companies will have rights to repurchase the properties after 5 years. The fund aims to generate high current income and total returns of 20% through moderate leverage of up to 60% on properties. It is only available to accredited investors.
The document discusses a case study about Vincent Colmo and Daniel Delconte who partnered to form River Triangle Associates (RTA) to invest in real estate properties. It describes their Steel Street project, a 6-story office building renovation in Pittsburgh that ran into cost overruns and leasing issues. Their options are analyzed, with providing leasing incentives and contributing more equity identified as the best approaches to improve the project returns. Sensitivity analysis is also conducted to understand the impact of variables like vacancy rates, rental rates, costs, and financing changes.
This document discusses various forms of long term debt financing for companies. It describes capital markets which facilitate the trade of securities like stocks and bonds. Private placements involve direct selling of bonds to a small number of qualified institutional investors like banks and insurance companies. Commercial papers are short term unsecured notes issued by large companies and financial institutions with maturities of up to nine months. Corporate bonds are longer term debt instruments issued by corporations to raise funds. Medium term notes have maturities between 5-10 years and combine aspects of commercial papers and corporate bonds.
Veteran Silicon Valley attorney Roger Royse will discuss, compare and contrast the various options available to entrepreneurs when it comes to funding their startup.
The speaker will address some common questions when it comes to funding for startups, including:
1) What are the best funding options for entrepreneurs to scale their business?
2) When should entrepreneurs pursue external funding?
3) How do entrepreneurs choose the right investor?
4) What alternative sources of funding are available?
5) How and why should a founder stage their funding rounds?
6) When should a founder think about exiting?
7) How can advisers help with the funding process?
and more!
The Lenox CFOTM provides comprehensive financial planning services including preparation and implementation of a customized financial plan, estate planning, retirement and cash flow management, asset management, insurance reviews, gifting and college education planning, corporate benefits planning, and ongoing monitoring services. Key services include fact finding sessions, personalized websites for financial planning, estate planning recommendations to minimize taxes, goal modeling and cash flow analysis, asset allocation reviews, insurance coverage reviews, maximizing annual gifts and education savings, and coordinating benefits for business owners.
This document summarizes a presentation about extending a startup's runway through venture debt. It discusses how venture debt can be used to finance growth and product delays. Venture debt typically has a 6-12 month interest-only period followed by principal repayment over 30-36 months, with interest rates in the mid-single digits to low double digits. Lenders consider the probability of future equity financing and enterprise value when assessing risk. The document also outlines working capital lines of credit, recurring revenue lines of credit, and alternative financing options like bridge loans.
This chapter discusses the goals and governance of corporations. It introduces corporations and describes them as business entities owned by shareholders. The chapter also discusses the roles of financial managers and how they make investment and financing decisions. It covers topics like the benefits and drawbacks of corporations, the goals of maximizing shareholder wealth, and how agency problems can arise between managers and shareholders.
Debt refers to funds that a company owes to another entity that must be repaid within a specific term. Equity refers to funds raised by issuing shares to the public that can remain invested in the company long-term as ownership. Key differences are that debt is borrowed while equity is owned, debt carries obligation to repay while equity represents ownership, and debt has fixed regular interest payments while equity dividends are variable and irregular. Maintaining a balanced ratio between debt and equity, typically with equity twice that of debt, helps companies cover potential losses.
General introductory information regarding Midwest Housing and the Low Income Housing Tax Credit. Information regarding using the Low Income Housing Tax Credit to assist in meeting CRA requirements.
Long term financing refers to raising funds for a period of more than 5 years to finance long term assets like plant, machinery, buildings, etc. The key sources of long term financing are equity shares, preference shares, debentures, term loans, internal accruals. Equity shares provide flexibility but dilute ownership, while preference shares are less risky but more expensive. Debentures and term loans are popular debt instruments that provide tax benefits but also repayment obligations and restrictions. Internal accruals have advantages of no dilution or issue costs but quantities are limited. Companies can raise long term funds through public offers, rights issues, private placements or venture capital/private equity.
This document discusses various topics related to equity valuation and stock markets, including the dividend discount model for valuing stocks, primary and secondary markets, common terminology such as market capitalization and P/E ratio, and different approaches to analyzing stocks like fundamental analysis and the efficient market hypothesis. Key valuation techniques introduced are the dividend discount model under different growth scenarios as well as valuing the present value of growth opportunities.
The document discusses a proposed merger transaction between W. P. Carey & Co. and CPA®:15. It notes that W. P. Carey will first convert to a REIT and then acquire CPA®:15 in an all-stock and cash deal. The combined company is expected to have increased scale, liquidity, and income from owned properties. The transaction is anticipated to close in Q3 2012 and provide benefits for both companies and their shareholders.
Banco Pine - Institutional Presentation 4Q12Banco Pine
PINE is a Brazilian bank specialized in providing financial solutions to wholesale clients. In 2012:
- Total credit risk grew 12.5% to R$7.948 billion while total funding grew 7.9% to R$6.544 billion.
- Shareholders' equity increased 20.2% to R$1.015 billion.
- Fee income grew 96.7% to R$120 million and net income grew 15.4% to R$187 million.
- Return on average equity was 17.9%, an increase of 70 basis points from 2011.
Companies can raise capital through either debt or equity financing. Debt financing involves taking a loan that must be repaid with interest, while equity financing involves selling ownership stakes in the company. There are several pros and cons to each approach. Debt is generally easier to obtain but subjects the company to fixed repayment obligations, while equity does not require repayment but dilutes ownership and control of the company. The best financing structure depends on the specific needs and risks involved for each business.
2016 Mark Barbash Financing Presentation Copy Colorado FINALMBEDC, LLC
This document provides an overview of economic development financing. It discusses understanding the business and project, identifying private and public financing options, determining any financing gaps, and structuring deals. Private financing sources include banks, venture capital, and capital markets. Public programs include direct loans, loan guarantees, tax-exempt bonds, tax incentives, and intermediary programs. The document outlines steps in the financing process and principles for working with private and public financing.
Corporate Finance Basics for Directors and ShareholdersMercer Capital
The purpose of the presentation is to provide directors and shareholders with a conceptual framework and vocabulary to help contribute to answering the three fundamental questions.
This document discusses various types of external sources of finance for companies, including shares and preference shares. It provides details on what shares are, the different types of shares (equity/ordinary shares), rights that come with shares like voting rights and claims on profits/assets. It also discusses the merits and demerits of equity financing for both companies and shareholders. Preference shares are also covered, outlining the four types and merits for companies and shareholders as a source of finance, as well as some disadvantages.
The document summarizes a fund that provides senior loans secured by real estate assets to professional real estate developers and investors. The fund focuses on loans for value-add real estate projects located primarily in the western US. It aims to preserve capital while achieving solid risk-adjusted returns through a strong credit focus, limiting loans to 65% LTV, and requiring significant equity contributions from borrowers. The fund is managed by an experienced team with a successful track record and uses an independent investment committee to review loans.
This document summarizes an investment opportunity in a real estate lending fund. The fund will provide short and long term loans to purchasers of distressed single family homes in California to buy, rehabilitate, and hold as rental properties. The fund aims to generate returns through interest payments on the loans as well as equity positions in the properties through shared appreciation mortgages. The fund is seeking $100 million and expects to achieve a 15.08% internal rate of return over its 5 year term. It is managed by an experienced team that achieved above market returns in a prior fund during the real estate downturn.
This a brief overview of why you should invest in Real Estate! We look briefly at the good and the bad that should be considered as you diversify into this asset class.
This document provides an overview of an investment opportunity to acquire Rockwood Plaza Apartments, a 304-unit apartment complex in Oklahoma City, Oklahoma. Key details include the $11.75 million purchase price, planned $4 million capital raise from investors, and plans to renovate and upgrade the property to increase rents and property value. The property is located in a growing area with low costs of living and doing business. Oklahoma City has experienced strong economic and population growth in recent years.
Silverwood Capital Fund I LLC formed to take advantage of a narrow niche in the mortgage note industry. The Company will seek to acquire, workout, and manage nonperforming real estate notes secured by residential 1-4 unit properties. While the primary emphasis will be focusing on nonperforming junior and Home Equity Line Of Credit (“HELOC”) notes, we will purchase select senior liens and REOs.
Using our network of banking and equity fund contacts, and advanced marketing techniques, the Fund will purchase mortgages and real estate at significant discounts to its underlying value. By focusing on distressed mortgages and properties, we know the potential for above average returns exist.
These securities are being offered under an exemption provided by SEC Regulation D Rule 506(c). Only accredited investors who meet the SEC Regulation D 501 “accredited investor” accreditation standards and who provide suitable verification of accredited status may invest into this Offering.
• Any historical performance data represents past performance. Past performance does not guarantee future results;
• Current performance may be different than the performance data presented;
• The Company is not required by law to follow any standard methodology when calculating and representing performance data;
• The performance of the Company may not be directly comparable to the performance of other private or registered funds or companies;
• The securities are being offered in reliance on an exemption from the registration requirements, and therefore are not required to comply with certain specific disclosure requirements;
• The Securities and Exchange Commission has not passed upon the merits of or approved the securities, the terms of the offering, or the accuracy of the materials.
This document provides an overview of AlphaFlow's TITAN real estate lending program. TITAN offers diversified portfolios of high-quality real estate bridge loans sourced from AlphaFlow's national lender network. The loans typically have terms of 6-24 months, are first mortgages, and have target yields of 8-9.5% after fees. AlphaFlow employs a rigorous underwriting process and actively manages the portfolios to maintain collateral protection and maximize returns. Minimum investment in TITAN is $100,000.
MMA Realty Capital manages various real estate investment programs, including originating loans, managing funds that invest in commercial real estate debt and equity, and providing capital solutions. It has over $10 billion in assets under management across multiple programs, including agency lending, structured finance vehicles, and commingled funds. Risk management is emphasized through rigorous underwriting and active asset management practices.
Bladex is a multinational bank that provides financing to Latin American countries. It has a resilient business model focused on short-term lending to top-tier clients in strategic industries. Bladex's portfolio is well-diversified across countries and sectors. It has strong underwriting standards and maintains high asset quality, evidenced by collecting 99% of scheduled credit maturities. Bladex is well positioned given the short-term nature of its portfolio and its focus on investment grade countries and clients.
Tag Young Professionals - Merrill Lynch PresentationMelanie Brandt
The document provides an overview of strategies for achieving a healthy financial life, including budgeting, investing, retirement savings, and financing a home. It discusses developing a budget and paying down high-interest debt. It also covers topics like buying vs renting a home, creating an investment portfolio based on goals and risk tolerance, saving for retirement through vehicles like 401ks and IRAs, and tips for young investors like starting to save early.
Bladex's distinctive structure and business fundamentals support its long-standing franchise throughout Latin America. The bank's unique business model enables proactive management through economic cycles. Bladex's sustained portfolio growth and pristine balance sheet structure position it to leverage new business opportunities. The bank focuses on top-tier clients across Latin America with a short-term commercial portfolio that is well-diversified across industries and countries.
Savi massi investment partners i ma may 2013 v1 web-1MASSI INT
This document provides an overview of a commercial real estate investment opportunity managed by SAVI Investment Partners II LLC. It discusses SAVI's experience investing over $290 million across various commercial real estate asset classes. The proposal seeks capital to acquire performing commercial real estate in South Florida, targeting a minimum 6% annual return over 5-10 years. It outlines SAVI's investment strategy, capital structure, and indicative terms for investors.
Everyday Capital, LLC is a Delaware limited liability company that will focus on real estate equity purchases, capital improvements, and lending to experienced real estate investors. Clear the Way, Inc, a New York S corporation, will manage the fund and make all acquisition, management, and underwriting decisions. The fund offers Class A shares to investors and Class B shares to its management company. It seeks to raise $50 million over 5 years and offers a targeted return of 7-12% to Class A investors.
This document provides background on a financially distressed manufacturing firm. The firm expanded significantly in recent years through acquisitions and new business lines, taking on substantial debt. Rising costs and underperformance of new ventures have led to declining profits and cash flow issues. The firm is technically insolvent, with over $24 million in senior debt, $9.5 million in unpaid trade debt, and equipment collateral worth $5 million against $7.5 million in loans. The chief lender wants to exit its credit within 120 days. As CRO, the author must develop a turnaround plan within 30 days to address the firm's financial crisis and multiple creditors.
The document discusses different investment options and their risk and return profiles, including stocks, bonds, and life settlements. It then provides details on how life settlement investments work, including purchasing a portion of a life insurance policy at a discount, with returns paid out when the insured passes away. Life settlements offer potential annual returns of 10-15% with very low risk of losing principal, providing diversification benefits compared to traditional markets like stocks and bonds.
The real estate market has been impacted by inflationary prices, increased opportunities for remote work, and racial justice challenges to historical disinvestment in communities of color. This Financial Poise webinar examines the types of real estate projects that help stabilize and strengthen our population centers, including affordable housing and other types of community developments, and explains the various types of economic incentives available to investors who participate in these projects.
Part of the webinar series: REAL ESTATE INVESTING 101 - 2022
See more at https://www.financialpoise.com/webinars/
Contact us at: info@thegrahamfunds.com if you are interested in obtaining Fund disclosure documents, account forms, and if you have any questions regarding these funds.
The City of Oakland Operating Fund is rated 'AAA/V1+' by Fitch Ratings. The 'AAA' rating reflects the high credit quality of the portfolio's assets, which are mainly U.S. government agency securities, as well as a conservative investment policy and appropriate oversight. The 'V1+' volatility rating reflects low market risk and the fund's ability to maintain stable principal value and meet cash needs, even during adverse market conditions. The portfolio has a weighted average maturity of 165 days and is well diversified, exposing it to minimal credit risk.
Bladex is a multinational bank focused on Latin America with over 40 years of experience in the region. It has a unique ownership structure consisting of central banks and other financial institutions. Bladex offers various financial solutions to top-tier clients across Latin America while managing risk through a short-term portfolio, regional diversification, and focus on investment grade clients. Bladex has demonstrated financial strength and sustainable results through different economic cycles.
- Welltower announced $3.3 billion in pro rata outpatient medical acquisitions closed and announced year-to-date at a blended yield of 5.6% including several major transactions.
- Notable transactions include the $787 million Hammes II portfolio acquisition, an $850 million joint venture with Invesco Real Estate, and $885 million of additional OM properties under contract.
- The transactions further Welltower's strategic focus on outpatient medical and health system relationships which now comprise over 30% of its portfolio.
1. The California Distressed Land Assets Fund Ltd A Timely & Compelling Investment Opportunity April 2010
2. Executive Summary CDLAF will take advantage of unprecedented opportunities in buying Distressed US Non-Performing Real Property and First Charge Mortgages at discounted valuations of up to 50%. The Fund’s Sponsor and the Managers individually bring 25+ years experience of real property management in the U.S. totaling more than $7bn of successful projects in over 300 past partnerships. CDLAF gains access to this long term strategic network of local managers who provide access to distressed assets using superior knowledge and local execution capabilities. The Fund will invest the majority of capital in 2010-2012 through acquisitions that concentrate on core gateway cities with the strongest prospects for recovery with properties that require value-added strategies. Acquisitions are screened in order to meet the Fund’s objectives of short term holding periods, known clean exits, which still meet the objectives of the fund through strategies focused on downside protection yet offering substantial upside opportunity. Full transparency on all assets with third-party administrators, auditors and external fund controls to inform and protect the investor’s interests. The Fund seeks USD155 million of committed capital to be funded in split tax years with initial closing on June 30, 2010. Minimum subscription USD 2 million. 2
3.
4. REO via local managers, loan service advisors and local/community banks
5. Short term refurbishment/resale properties via local managers and local/community banksMortgage pools are a mixture of various failed banks’ assets Investment Committee of 5 senior industry leaders, each with 25+ years of industry experience Investment Committee reviews all potential asset purchases and decides on what assets are bought Segregation of assets between LLC’s according to portfolio managers area of expertise 3
6.
7. Select pools that have a high percentage of loans in areas of lower unemployment
8. Choose housing with a first charge mortgage where the borrowers put down a mortgage deposit
10. Pools must be more than 50% currently performing and not filtered with loans that have been previously rejected by others
11.
12. Assume 20% of the performing loans will become non-performing
13. Assume that the average home has lost 35% of value and, if the owner put down a deposit, the average deductions will be 20-25% of the principal of the loan4
14.
15. Price all foreclosed properties owned by financial institutions in bulk at roughly 20%-25% of the original loan balance and sell on to specialist funds
16. Based on the assumption that 10% unemployment will result in 20% of the loans not being able to qualify for modifications they will therefore need to be sold at roughly 25%-35% of the loan balance to specialist funds
17. Risk offset as mortgage owners are subsidised by the Govt to prevent foreclosureSell re-performing loans back to FNMA/FHA/GNMA at approximately 75 – 80% of original loan balance via the “Making It Affordable” Obama programme, having been purchased at 50 -60% of original loan balance Exit planned within 18 – 24 months 5
18. REO – Residential Apartments/Housing Selection Criteria Locations of assets well known and reviewed by Investment Committee Choose gateway cities with lower unemployment and good job formation patterns Demonstrates clear ability to deliver value to end consumer in either rental rates or sale price Due Diligence on REO Selection of substantially completed assets with no major impairments which would prevent accomplishing the business plan Acquisition substantially below replacement costs Affordable end of the market allowing for majority of average incomes to qualify to rent or purchase Exit Plan Value added elements such as refurbishments are well within the team’s skill-set, and achievable within a short time frame Clear justification required for assets held beyond 24 months Clean and supportable exit reflective of the Fund’s yield objectives via rental or sale 6
19. Short Term Refurbishment/resale Programme Selection Criteria Focus on limited geographical area in job based central core markets with significant population within a 5 mile radius with limited housing inventories of less than 6 months supply. Acquisitions must be roughly 25% lower than normal market level unless some form of leverage is available. Buying newer homes in the affordable range requiring very little in repairs with average budgets of under 5k for market ready housing. Focus on pricing in the affordable range only. Exit Plan Work with local operators who have proven track records and previously demonstrated the ability to quickly turn around the inventory efficiently for resale Ensure operators have equity invested which is subordinated to Funds capital return and a large hurdle rate Minimum capacity of 50 homes a year to move forward with local operators Exit from asset planned within 12 – 18 months Complete transparency with all funds moving through escrow or fund control 7
20. Why U.S. Real Estate? 8 US real estate values have fallen more than 35% from peak values. Strong market impetus created where jobs and home prices have the best affordability since 1981. The US has seen a greater alignment of income levels and house prices than most developed markets. http://www.housingwire.com/2010/03/09/economists-find-us-house-prices-are-undervalued-globally/ Recent trends are highly correlated to the best affordability in 20 years.http://www.nuwireinvestor.com/articles/home-affordability-increases-to-near-record-level-54754.aspx US home foreclosures are forecast to taper off strongly by the 2nd Qtr of 2011, exhibited in the Rate Resets chart. Sales of new and existing homes, now at more than twice the level of foreclosures, have been accelerating over the past six months. With inventories falling by half, markets are now exhibiting price stability as the forces of supply and demand start to balance in many cities. The government is active in strongly supporting the housing market through purchase schemes and relaxed rules supporting homeownership. http://blogs.wsj.com/developments/2010/01/14/ubss-10-predictions-for-housing-in-2010/tab/article/ 8
21.
22. 25 years experience in developing and managing residential projects with his Joint Venture Partners & LLC.
23.
24. David Michelson will invest USD 1 million on the same terms as the fund’s investors
27. Michelson Family Partners Inc, will be the Advisor to the Three Arch Investment Corp I and its sister companies, the Delaware corporations holding the Fund’s assets.
33. SAM will both be a portfolio manager as well as a direct manager of REO assets.
34. SAM shall also serve as the management office for Three Arch Investment Corp 1 and will be responsible for tax reporting, compliance and all investor reporting. SAM will provide two members to the investment committee and be a portfolio manager.10
37. Their past portfolios have a combined value of over USD 4 billion, the key segments of which are developing, acquiring and managing more than 13,540 multifamily units, 1,448,000 sq feet of office buildings and providing more than USD 3 billion of equity financing.
39. Completed over 145 past equity offerings, using previously 16 strategic managers which resulted in 132 of the 145 projects producing a total profit of greater than USD 500 million.
43. Strand Corporation will be an active co-investment partner and will bring a significant benefit to the fund with their past strategic alliances with financially motivated local operating partners that provide high-margin opportunities.
46. How The Investment Works A series of 3 baskets holding different assets which are designed to be deployed at various points throughout the changing real estate cycle. Basket A shall hold the short term cash. Basket B shall start out as a primary acquisition in 2010, with Basket C quickly becoming the primarily asset type, once the cycle moves from distressed to stability and recovery. Investment opportunities are presented to the investment committee by local managers, which are reviewed by senior managers of Spring Asset Management and Strand Corporation. This ensures that seasoned successful real estate and investment professionals review all opportunities. Each real property investment requires a minimum of 10% in aggregate equity, from non CDLAF sources thus having “skin in the game”. Full transparency, with third party administration and independent audit controls and third party fund controls, which allows the Fund to meet institutional standards in supervisory and regulatory controls through its infrastructure with regard to investment strategy, risk management and client services. Upon the sale of major assets, funds remaining after reserves are disbursed back to the investors, in a tax efficient manner. Alignment of interest, between sponsor and managers who need to meet minimum hurdles of 8% but have additional rewards when they individually achieve 25% returns or greater for the Delaware Corporation. 12
47. Portfolio Composition 13 Investments allocated across 3 baskets Basket A Short term cash management Basket C Foreclosed real property assets (REO) and equity loans to local operators Basket B Highly discounted non-performing mortgages and pools of toxic assets from the failed banks The above performance is based on an investment of USD 2,000,000 and assumes a return pre US-Tax, and is using a combination of non-leverage and leverage in the assumptions.
48. Projected Returns 14 The above performance is based on an investment of USD 2,000,000. The gross figure assumes a return pre US Tax, and is using a combination of non-leverage and leverage in the assumptions. The net return is based on current tax law which may change over the life of the fund.
54. Distribution of cash flow income (net of management fees and reserves) every 6 months to investors via the Jersey fund provided the amount exceeds USD 1 million.
55. No requirement for re-investment ; re-investment will not be charged new establishment fees.
57. For investors with an income tax treaty between their country of residence and the United States, the Sponsor may create an alternative investment structure to invest on a side by side basis with the Jersey company. For example, if it is more tax efficient to do so, companies resident in Canada, the United Kingdom or Germany may invest in the Fund through the voting shares and debt securities of a single Delaware corporation, which in turn may invest in every LLC holding one of the Fund’s portfolios.* Subscriptions open to non-US investors only for the Jersey Fund.
59. Conclusion Focused micro-oriented real estate fund utilising experienced local managers to take advantage of the opportunities in the distressed US real properties market. Buys first charge residential mortgages and foreclosed properties which need to be liquidated by the failed banks resulting in motivated sellers and thus risk-adjusted acquisitions. Skillful managers who will seek to repeat their prior success of over 25 years by acquiring distressed real property assets, as well as capital for managers who have opportunities in their local markets. Alignment of interest given managers and sponsors high hurdle rate, co-investments and third party controls and supervisions. Open access via web to investment committee meetings. Full access to all financial obligations and accounting. Clear trends that suggest lower inventories despite foreclosures and accelerating demand as a result of economic stability. Strong governmental support and long term programme intended to make homeownership compelling. Distribution of all revenues, net of reserves back to the investors with the first liquidity event within 18 months after acquisition. Investors may reinvest these funds back to CDLAF, net of establishment fees. Targeting high teen to mid twenty returns, prior to US taxes using a tax efficient structure built for EU Corporations, Pension Plans, Insurance Company and high net worth individuals. Cut off for new investments on December 31, 2013. Winding up objective of 6 years, unless extended by approval of the shareholders. 18