BOCA RATON, Fla., May 14, 2019 /PRNewswire/ -- QuickLiquidity, a private equity firm investing in commercial real estate debt and equity, has announced that it has closed a loan secured by an illiquid and non-controlling ownership interest in a $200 million lifestyle shopping center. Located in the Midwest, the center is over 700,000-square-feet and has an occupancy above 95%. The center offers shoppers a vast collection of designer and brand name outlet stores, restaurants, and entertainment venues.
The borrower, who has previously worked with QuickLiquidity, is an experienced commercial real estate developer who needed to quickly access capital in order to invest in a time sensitive investment opportunity. Despite having a significant amount of equity in his ownership interest, due to it being illiquid and non-controlling, he had few ways to turn his equity into cash.
QuickLiquidity offered a solution by providing a loan using the borrower's minority ownership interest as collateral. This allowed the borrower to receive the capital he needed while maintaining complete ownership and control of his interest.
The borrower received a term sheet from QuickLiquidity within only days of submitting his loan request. It then took 11 days from when the term sheet was fully executed for QuickLiquidity to document and close the loan. QuickLiquidity worked with the borrower to ensure the loan was done in full compliance with the entities operating agreement.
"We have a tremendous amount of experience with purchasing and lending against minority interest positions in commercial real estate partnerships, which allows us to understand and close complicated deals quickly," states A. Yoni Miller, Principal of QuickLiquidity. "Helping our borrowers with time-sensitive and complex transactions is at the heart of what we do every day. Our success is not only determined by the returns we generate, but by the relationships we build."
When life presents unpredictable situations and liquidity is needed, limited partners can turn to QuickLiquidity. QuickLiquidity is a direct buyer and lender against limited partnership interest in commercial real estate LLCs, LPs, TICS, and DSTs.