Capital Markets
We specialize in sourcing capital for our clients
FOR ALL PROPERTY TYPES, NATIONWIDE
1st Service Solutions specializes in sourcing capital for our clients. As the nation’s leading CMBS advisory firm, we have access to capital for all property types, nationwide, including Joint Venture and structured financing. Our capital providers have long histories of working with CMBS owners and special servicers. The special servicers belief in the certainty of execution increases the likelihood of a successful modification of a CMBS loan. Accomplishing a successful CMBS modification takes many things, including capital.
When it makes sense for a borrower to utilize third party capital to execute, the key is sourcing the RIGHT capital! One that is borrower friendly and not out to take your property. One that has a good track record of execution with the special servicers.
Value of our Services
These are just some of the reasons why you should choose 1st Service Solutions for your capital provider
Experience
Our senior team has over 100-years of experience in working with or for servicers on both the debt and equity side. We know first-hand the CMBS servicers requirements, including the types of capital solutions that will work for each situation
Extensive Network
We regularly work with specific capital providers who are known by the special servicers and are borrower friendly; which is a key component to a successful CMBS modification
Capital Specific To Your Need
We have relationships with an array of capital providers for all property types, nationwide, who can provide the following solutions:
- Senior mortgages
- Mezzanine loans and Preferred Equity
- Bridge loans
- Joint Venture Equity
Case Studies
Recent case studies
3 ENCLOSED MALLS
- 3 Malls in 3 surrounding states all secured by 1 CMBS loan
- Anchor tenants included Sears, JC Penney and other tenants which have closed stores
- Loan balance: $31MM
- Appraisal at time of resolution: $13MM
- 1st Service Solutions got approval for a discounted payoff from the special servicer and secured 100% LTV DPO financing for the borrower
OFFICE BUILDING IN OHIO
- 260K SF office in Cincinnati, Ohio
- Loan balance: $38MM
- Occupancy was 65% and there was $3MM in capital required to stabilize property
- Appraisal at time of resolution: $21MM
- 1st Service Solutions secured a transaction where the borrower was able to buy the note from a certain class of bondholders in the CMBS bond stack (for just over the appraised amount)
OFFICE BUILDING IN TEXAS
- 180K SF office in Texas
- Loan balance: $33MM
- Largest tenant lease expired and loan matured within a few months apart
- Appraisal at time of resolution (with large vacancy): $12MM
- 1st Service Solutions secured a transaction where the borrower was able to buy the note from the trust by joint venturing with a large hedge fund (for the appraised amount)
1st CMBS Workout Firm
We invented the CMBS borrower advocate niche in the market and also were the 1st CMBS debt advisor to receive a ranking from Morningstar. We received Morningstar’s second-highest ranking, MOR-CV2. Don’t settle for 2nd!
