BOCA RATON, Fla., Aug. 15, 2017 /PRNewswire/ -- QuickLiquidity, a leading real estate private equity firm providing equity recapitalizations and subordinated debt on commercial real estate, has announced that it has made a $500,000 loan secured by a 9.39% illiquid and non-controlling ownership interest in a $30 million shopping center located near Cincinnati, OH. The property is 320,000-square-feet and is 100 percent occupied with its anchor tenants being The Home Depot, Kroger, and Kohl's, who have leases that continue until 2025 and 2024.
"The attraction to this property came from its track record of stability and steady income, coupled with continued growth in the Cincinnati, OH area real estate market," said A. Yoni Miller, Principal of QuickLiquidity. "We have a tremendous amount of experience with purchasing and lending against minority interest positions in real estate partnerships. This allows us to understand and close complicated transactions quickly."
The borrower had received a term sheet from QuickLiquidity only one day after submitting his loan request. The loan was then funded only two weeks after the term sheet was fully executed. QuickLiquidity worked with the borrower to ensure the loan was in full compliance with the ownerships operating agreement and the property's mortgage.
The borrower looked to monetize its illiquid and non-controlling ownership interest to access capital in order to invest in a time sensitive real estate development deal. By bringing in QuickLiquidity as the lender the borrower was able to receive the capital he needed, in the time he needed, while maintaining complete ownership of his interest. This allows the borrower to receive the property's future appreciation and upside while leveraging his existing investment.
QuickLiquidity is a leading real estate private equity firm providing limited partners a viable exit strategy to their illiquid minority interest positions in LLCs, LPs, TICs, and DSTs; and offering equity recapitalizations and subordinated debt on commercial real estate. For more information, please visit http://www.quickliquidity.com/recapitalizations.html.