CBRE CAPITAL MARKETS DEBT & STRUCTURED FINANCE CAPABILITIES OVERVIEW
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2015 YEAR END
TEAM OVERVIEW
The CBRE Capital Markets Debt & Structured Finance Group is truly a production team, providing expertise across all property types and capital structures while concurrently offering clients the benefits of specialization within each property sector. Our multi- disciplined team is comprised of six highly experienced production professionals 104 with a track record of efficiently meeting clients’ debt, equity and structured finance TRANSACTIONS requirements.
We view each financing opportunity as a chance to serve as a trusted capital advisor focused on maximizing the value of our clients’ real estate investments by not only achieving the best financing available in the marketplace, but also by presenting capital solutions customized specifically to meet our clients’ short-and long-term strategic goals and objectives. $1,149 MILLION As a part of CBRE, the team also has access to the vast resources of the CBRE platform, TOTAL TRANSACTIONS including investment sales, marketing, valuations, research, property management, and leasing. By leveraging our company’s national platform, we are able to expose each asset to the maximum amount of capital sources while providing those sources the best market knowledge.
Our experience and access to market data and capital sources allow us to focus on meeting each client’s specific capital needs. As a result, our Debt & Structured Finance team is recognized as one of the top teams in the country. FINANCED ALL MAJOR PROPERTY TYPES OFFICE, INDUSTRIAL, RETAIL, MULTIFAMILY, MANUFACTURED HOUSING, MIXED USE AND SPECIAL PURPOSE
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CASE STUDIES
MESA RANCH RANCHO TEMECULA TOWN CENTER
CHALLENGE CHALLENGE
A major tenant at had backed out of its previously agreed upon lease at this Hispanic grocery The property was purchased at the lowest cap rate in the Inland Empire. CBRE had to anchored retail center, rendering the asset unstable at 45% occupancy. Buyer/Borrowers engineer a financing vehicle that would provide positive leverage for the Buyer/Borrower. wanted to hedge the ensuing interest rates through a permanent debt placement, with the option to upsize the loan once the property achieved stabilized tenancy. SITUATION
SITUATION We maximized competition between more than 50 various Lenders (Life Companies, Com- mercial Banks and Commercial Mortgage Banks) by collaborating with CBRE’s National We successfully arranged staged funding through a life insurance company. Borrower was Retail Investment Group. able to lock long-term interest rates based on initial tenancy for the first stage of funding, with the option for additional fixed-rate, long-term financing upon the stabilization of tenancy. RESULTS RESULTS Leveraging CBRE’s deep-rooted access to capital, we successfully arranged $28 Million The Borrower was able to hedge interest rates with an initial funding, while the subject in fixed-rate financing through a Life Company correspondent. We achieved themost property achieved leasing stabilization and the Borrower was then able to obtain the second competitive financing structure available with interest only payments for the entire 12 year part of the staged funding so that the subject had the proper leverage balance. Both loans loan term. GEMSA Loan Services, a CBRE affiliate, will service the loan and we will remain have long term fixed interest rates with co-terminus maturities. involved as needed throughout the term of the loan.
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CASE STUDIES
ASM BUILDING WILLOW OAK ESTATES
CHALLENGE CHALLENGE
Our client needed to solve for the upcoming maturation of a loan tied to their ownership of In 2013, CBRE was tapped to arrange long-term, fixed interest rate financing for the this large, single-tenant industrial building, with a specialized build-out. The client (Owner/ acquisition of “Willow Oak Estates.” Constructed in 1988 but expanded in 2007, the 4-star Borrower) needed to determine whether to sell the building or refinance the loan. The family community had yet to achieve stabilized tenancy. building’s tenant was Investment Grade and had approximately 10 years left on its lease. SITUATION SITUATION We took strategic steps to get Lenders comfortable with the asset’s in-place income and We brought CBRE Capital Markets’ Investment Sales Group and, by integrating our two the Buyer/Borrower’s strength, real estate knowledge and experience. Our comprehensive, perspectives CBRE collectively determined it would be best to sell the asset as a 1031 intelligence-driven approach allowed us to structure a competitive, 25-year-term financing exchange, directing the proceeds into several NNN replacement properties. To this successful solution with 10-year rate adjustments through a life insurance company. end, we provided three separate loans on the three NNN exchange properties. RESULTS RESULTS Our client was able to leverage a competitive market interest rate at acquisition, as well as We eliminated our client’s exposure to risk and maximized his ownership return with a afforded the opportunity to refinance the property – without penalty – every 10 years. successful exchange disposition of the ASM building; all the result of our firm’s collaborative capitalization on market/tenant realities.
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DEALS LIST
PROPERTY NAME PROPERTY TYPE LOCATION SIZE LENDER TYPE LOAN TYPE TERM AMORTIZATION LOAN AMOUNT $40 MILLION + CLOSED LOANS
10 years Alameda Towne Centre Retail Alameda, CA 595,352 SF Life Company Permanent 30 years $111,375,000 2 years I/O
Arizona Portfolio Office & Retail Phoenix, AZ 200,000 SF Pension Fund Equity 10 years N/A $100,000,000
University of Phoenix Office Phoenix, AZ 599,663 SF CMBS Permanent 5 years Full term I/O $91,500,000 Headquarters
ANC District Retail Henderson, NV 212,593 SF CMBS Permanent 10 years 30 years $70,000,000
Phoenix Gateway Office Phoenix, AZ 427,603 SF Debt Fund Bridge 3 years Full term I/O $60,000,000
Flynn Gallagher Office Las Vegas, NV 321,041 SF CMBS Permanent 10 years 30 years $57,750,000 Corporate Centre
Pavillions Retail Scottsdale, AZ 1,060,950 SF CMBS Permanent 10 years 30 years $57,000,000
Wal-Mart Distribution Industrial Riverside, CA 507,000 SF Pension Fund Permanent 7 years Full term I/O $55,000,000
Esplanade III Office Phoenix, AZ 218,266 SF Life Company Permanent 7 years Full term I/O $52,500,000
Petsmart World Office Phoenix, AZ 365,672 SF Life Company Permanent 10 years Full term I/O $51,250,000 Headquarters
10 years Skysong Office Scottsdale, AZ 289,645 SF CMBS Permanent 30 years $46,250,000 5 years I/O
Kierland Office Building Office Scottsdale, AZ 258,312 SF Bank Floating 5 years Full term I/O $43,450,000
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DEALS LIST (CON’T)
PROPERTY NAME PROPERTY TYPE LOCATION SIZE LENDER TYPE LOAN TYPE TERM AMORTIZATION LOAN AMOUNT $10 MILLION TO $40 MILLION
DHL Office Scottsdale, AZ 215,126 SF CMBS Permanent 10 years 30 years $32,000,000
Credit Shutterfly Industrial Tempe, AZ 237,000 SF Permanent 10 years 25 years $30,000,000 Company
Papago Arroyo Office Tempe, AZ 219,503 SF CMBS Permanent 10 years 30 years $29,250,000
Camelback Square Office & Retail Scottsdale, AZ 174,917 SF Bank Floating 3 years Full term I/O $26,568,000
Copper Creek Apartments Multifamily Las Vegas, NV 368 units CMBS Permanent 10 years 30 years $24,000,000
Pageantry West Office Las Vegas, NV 105,583 SF CMBS Permanent 10 years 30 years $16,400,000
FedEx Virginia Industrial Hampton, VA 198,839 SF Life Company Permanent 20 years 20 years $16,000,000
Diamond Creek Retail Diamond Bar, CA 121,788 SF Bank Permanent 10 years 25 years $15,000,000
Tuscany at McCormick Multifamily Scottsdale, AZ 73 units CMBS Permanent 10 years 30 years $14,000,000 Ranch
GE Engine Facility Industrial Batesville, MS 300,000 SF Life Company Permanent 10 years 10 years $12,000,000
Ford Motor Credit Office Henderson, NV 111,630 SF Life Company Permanent 10 years 25 years $11,600,000
Centinela Medical Office Inglewood, CA 103,338 SF Life Company Permanent 15 years 15 years $11,000,000
Copper Palms Multifamily Phoenix, AZ 206 units CMBS Permanent 10 years 30 years $10,425,000
Ridgeview Shopping Retail Mesa, AZ 130,717 SF Life Company Permanent 10 years 25 years $10,000,000 Center
Alicia Office Park Office Laguna Hills, CA 86,412 SF Debt Fund Bridge 4 years Full term I/O $10,000,000
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DEALS LIST (CON’T)
PROPERTY NAME PROPERTY TYPE LOCATION SIZE LENDER TYPE LOAN TYPE TERM AMORTIZATION LOAN AMOUNT $5 MILLION TO $10 MILLION
TECH Park VI Office Henderson, NV 85,132 SF Life Company Permanent 10 years 25 years $9,500,000
Clarendon Park Multifamily Phoenix, AZ 138 units HUD Permanent 35 years 35 years $9,008,000 Apartments
Ross & Shops Retail Pomona, CA 48,422 SF Bank Permanent 13 years 25 years $8,590,000
Verrado Office & Retail Buckeye, AZ 66,085 SF Life Company Permanent 10 years 25 years $7,300,000
Best Buy & Gander Retail Scranton, PA 61,122 SF CMBS Permanent 10 years 30 years $6,900,000 Mountain
Huntington 24-Hour Fitness Special Purpose - Life Company Permanent 18 years 18 years $6,900,000 Beach, CA
Northgate Plaza Retail Tucson, AZ 103,492 SF Life Company Permanent 15 years 20 years $6,700,000
Riverport Lakes Office St. Louis, MO 220,106 SF Life Company Permanent 25 years 25 years $6,500,000
Flats at Sky Village Multifamily Arvada, CO 104 units Bank Permanent 10 years 30 years $6,480,500
Hasley Canyon Mobile Manufactured Castaic, CA 113 spaces CMBS Permanent 10 years 30 years $6,400,000 Estates Housing
Tweeters Retail Center Retail Frisco, TX 33,663 SF CMBS Permanent 10 years 30 years $6,000,000
Reddy Ontario Medical Office Ontario, CA 51,523 SF Life Company Permanent 15 years 15 years $5,700,000
Construction / Securaplane Industrial Tucson, AZ 55,265 SF Life Company 8 years 21 years $5,400,000 Perm
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DEALS LIST (CON’T)
PROPERTY NAME PROPERTY TYPE LOCATION SIZE LENDER TYPE LOAN TYPE TERM AMORTIZATION LOAN AMOUNT $5 MILLION OR LESS
Lincoln Sky Harbor Industrial Phoenix, AZ 127,013 SF Life Company Permanent 15 years 15 years $4,000,000
Southforke Pointe Retail Henderson, NV 20,147 SF Life Company Permanent 20 years 20 years $3,900,000
Manufactured Vista del Rosa Apple Valley, CA 170 spaces Life Company Permanent 15 years 25 years $2,800,000 Housing
Walgreens Retail Norfolk, VA 14650 SF CMBS Permanent 10 years 30 years $3,100,000
Mesa Industrial Industrial Mesa, AZ 65,000 SF Life Company Equity 5 years N/A $3,000,000
Arrowhead Business Park Office Peoria, AZ 34,208 SF Life Company Permanent 10 years 25 years $3,000,000
Construction / I/O during Master Car Wash Special Purpose Tucson, AZ 23,350 SF Bank 1 year / 5 years $2,875,000 Mini-Perm construction
Gibson Palms Business Industrial Henderson, NV 75,508 SF Life Company Permanent 15 years 15 years $2,720,000 Park
The Commons @ Office/Condo Mesa, AZ 75,000 SF Pension Fund Equity 2 years N/A $2,375,000 Superstition
KPB West, LC Industrial Phoenix, AZ 52,656 SF Life Company Permanent 10 years 25 years $2,000,000
Chaparral Mobile Home Manufactured Yuma, AZ 64 spaces Life Company Permanent 25 years 25 years $1,400,000 Park Housing
Jack in the Box Special Purpose Dallas, TX - Bank Permanent 7 years 25 years $410,000
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CLOSED DEAL MAP
$15 BILLION IN LOANS CLOSED THROUGHOUT 33 STATES
WASHINGTON
MINNESOTA OREGON NEW YORK WISCONSIN IDAHO MICHIGAN PENNSYLVANIA IOWA OHIO NEVADA NEBRASKA INDIANA ILLINOIS UTAH COLORADO VIRGINIA MISSOURI KANSAS CALIFORNIA KENTUCKY NORTH CAROLINA TENNESSEE SOUTH OKLAHOMA ARIZONA CAROLINA HAWAII NEW MEXICO GEORGIA MISSISSIPPI ALABAMA TEXAS
FLORIDA
CLOSED LOANS IN THESE STATES
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CBRE DEBT & STRUCTURED FINANCE
The high level of expertise and individual client commitment of CBRE Debt & The key to successful financing is effectively combining a consultative market Structured Finance is illustrated by the activity levels achieved during fiscal year perspective with innovative financing strategies. Our service cycle begins with 2015. During this period, Debt & Structured Finance professionals completed $39.4 a thorough and accurate situation analysis, followed by innovative strategy billion in loan originations and loan sales and serviced $135 billion in loans on a development and a focused implementation. With specific experience in office, national level. We are experienced in securing funding and servicing loans from $1 industrial, multifamily, hotel and retail property financing, we consistently deliver million and upwards for all property types. optimal financing regardless of asset type.
Through correspondent relationships with numerous domestic and international investors, funding options are available to developers and owners of commercial DEBT & STRUCTURED FINANCE LOAN ORIGINATIONS BY DEAL properties worldwide, including: SIZE3 TRAILING 12 MONTHS4 • Fixed-rate and floating loans • Standby loans
• Construction loans • Participating loans 4% 5% • Forward loans 20% UP TO $5M DEBT & STRUCTURED FINANCE LOAN VOLUME1 TRAILING 12 MONTHS2 $5M TO $10M
22% $10M TO $25M $35 1,600 17% $25M TO $50M $30 1,400 1,200 $50M TO $100M
$25 Number of Originations 1,000 $100M+ $20 800 $ Billions $15 600 32% $10 400 $5 200 Source: CBRE Capital Markets. 1Includes Loan Sales. $0 0 2(07/01/14-06/30/15). ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 TTM2 3Includes Loan Sales and Property Sales. 4(1/1/15-12/31/15) Loan Activity Number of Transactions
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NATIONAL PRODUCTION STATISTICS
2015FY (JANUARY 2015-DECEMBER 2015)
NOTABLE FACTS
$253M 290+ LARGEST DEBT TRANS- ACTION 45 CLOSED DEALS WITH SEPARATE CAPITAL SOURCES CLOSED DEALS 139 banks $1.7B LARGEST PORTFOLIO IN 45 OF 50 STATES 43 life company lenders DEBT TRANSACTION 28 CMBS lenders 32 pension funds, private investors & REITs $2.4B LARGEST LOAN SALE 48 other sources*
GLOBAL LOAN 5,500 $135B+ 80+ SERVICING LOANS UNPAID PRINCIPAL INVESTORS BALANCE
*Other includes: Agencies, Credit Companies and other.
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PRODUCTION SUMMARY | CAPITAL SOURCE
2015FY (JANUARY 2015-DECEMBER 2015) # AVG % AGENCY DEALS VOLUME DEAL SIZE BY VOL 724 $12.7B $17.6M 32% BANKS
LIFE COMPANIES 395 $7.2B $18.3M 18%
CMBS LENDERS 271 $5.6B $20.6M 14%
OTHER1 161 $2.9B $18.0M 7%
LOAN SALES 203 $5.3B $78.8M 13% 15 $5.7B $378.9M 14%
1Other Includes - Private Investor, Pension Funds/Advisors, Credit Co’s & REIT’s and Advisory & Consulting assignments
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PRODUCTION SUMMARY | PURPOSE
2015FY (JANUARY 2015-DECEMBER 2015)
# DEALS VOLUME AVG VOL % BY VOL
ACQUISITION 838 $18.7B $22.3M 56%
REFINANCE 814 $12.4B $15.3M 37%
CONSTRUCTION 99 $ 2.4B $24.6M 7%
OTHER 3 $ 0.1B $33.1M .03%
Notes: Excludes loan sales
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PRODUCTION SUMMARY | PROPERTY TYPE
2015FY (JANUARY 2015-DECEMBER 2015) # 2015 AVG % 2014 2013 DEALS VOLUME DEAL SIZE BY VOL VOLUME VOLUME
MULTIFAMILY 1,054 $21.4B $20.3M 54% $14.2B $12.8B
OFFICE 209 $5.7B $27.1M 14% $6.0B $5.5B
INDUSTRIAL 166 $3.0B $17.8M 8% $1.6B $1.4B
RETAIL 215 $2.2B $10.4M 6% $2.1B $1.8B
OTHER 81 $0.9B $10.8M 2% $1.6B $1.0B
HOTEL 29 $0.5B $18.7M 1% $0.7B $0.4B
LOAN SALES 15 $5.7B $378.9M 14% $5.8B $2.5B
Notes: Multifamily includes assisted living/seniors and condo. Other includes mixed use, special purpose, mini warehouse and mobile home.
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PRODUCTION SUMMARY | DEAL SIZE
2015FY (JANUARY 2015-DECEMBER 2015)
$5M- $10M- $25M- $50M- STRUCTURED <$5M $10M $25M $50M $100M $100M+ FINANCE* # DEALS 503 276 503 358 105 24 277 VOLUME $ 1.4B $ 2.0B $ 8.5B $ 12.5B $ 6.8B $ 8.1B $7.0B AVG VOLUME $ 2.7M $ 7.4M $ 17.0M $ 35.0M $ 64.9M $ 335.9M $25.2M % BY VOLUME 3.5% 5.2% 21.7% 31.8% 17.3% 20.5% — % BY COUNT 28.4% 15.6% 28.4% 20.2% 5.9% 1.4% —
*Structured Finance includes construction, bridge, mezz and joint Venture equity assignments.
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CAPITAL MARKETS OVERVIEW
PUTTING THE PLATFORM TO WORK CBRE Capital Markets combines investment sales, advisory, financing and mortgage • Entity-level mergers and acquisitions, capital raising, pre-IPO advisory and banking into a single, fully integrated global service offering. As the recognized corporate level strategic valuations worldwide leader in the real estate investment community, our clients have access to complete capital markets solutions anywhere around the globe through our This unique platform works to assure clients that all alternative recapitalization unparalleled offerings in: strategies are evaluated. When working with buyers of assets, optimal debt structures are often secured, enabling borrowers to obtain more loan proceeds at attractive • The acquisition and disposition of income-producing properties and portfolios terms and sellers to achieve better results. By combining investment sales with for third-party owners and corporate occupiers financing and mortgage banking solutions, investors are ultimately provided with maximum flexibility to achieve their capital needs. • Debt and equity placement for all property types
CAPITAL MARKETS U.S. ACTIVITY BY PRODUCT TYPE FIRST HALF 2015
SALES FINANCING
Multifamily $11.81 $9.61
Office $13.08 $2.35
Industrial $5.30 $1.38
Retail $3.19 $0.99
Asset Type Hotel $1.02 $0.21
Other $1.89 $0.49
Loan Sales $0.10
$0.0 $5.0 $10.0 $15.0 $20.0 $25.0 CBRE Capital Markets provides real estate funding and services to developers $ Billions and owners of commercial real estate properties globally. Source: CBRE Capital Markets
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CORPORATE OVERVIEW
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company GLOBAL BROKERAGE RANKINGS ALL PROPERTY TYPES* headquartered in Los Angeles, is the world’s largest commercial real estate services FIRST HALF 2015 and investment firm (in terms of 2014 revenue). The company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 372 offices (excluding affiliates) worldwide. CBRE $60.0 offers strategic advice and execution for property sales and leasing; corporate $53.5 services; property, facilities and project management; mortgage banking; appraisal $50.0 and valuation; development services; investment management; and research and $40.0 consulting. Whether it is a local, national or global assignment, CBRE applies $37.0 insight, experience, intelligence and resources to help clients make informed real estate decisions. The many strengths that CBRE brings to each transaction include: $30.0 $33.9 • An intimate knowledge of virtually every major market in the world $20.0 $ Billions • Intellectual capital and technological resources that develop and deliver $10.0 $15.4 superior analytical, research and client service tools to its professionals $12.5 $0.0 • A proven track record of meeting diverse client needs • Leadership positions in all service lines Jones Lang Eastdil Cushman & Colliers • An organizational structure that harnesses the firm’s collective expertise LaSalle Secured Wakefield International
Source: Real Capital Analytics. *Based on independent reports of properties and portfolios $10 million and greater.
1906 1970s and 1980s 1990s 2000s CBRE TODAY
Founded in Company expands both its service portfolio First global outsourcing client is secured; 2003: CBRE becomes the largest 2007: Company pledges to become 2012: Wall Street Journal cites CBRE now possesses the San Francisco and geographic coverage to become a full- company moves aggressively to accelerate commercial real estate services leader carbon-neutral—making CBRE the first CBRE as the best real estate brand most comprehensive service provider with a growing presence in growth and cultivate global capabilities to meet commercial real estate services company service offering, 2004: Firm completes initial public 2013: CBRE acquires Norland Managed all major U.S. markets client demands to announce such a goal broadest geographic offering and begins trading its Class Services Ltd, the leading provider of reach, sharpest market A Common Stock on the New York 2008: Firm becomes first real estate building technical engineering services in National accounts program is established CBRE Global Investors is formed as the intelligence and brightest Stock Exchange services company ever included among the U.K. and Ireland company’s investment management subsidiary talent in the industry the Fortune 500 Torto Wheaton Research is acquired— 2005: Recognized as Fortune 1000 2014: CBRE voted Fortune’s most admired later becomes known as CBRE Econometric L.J. Melody & Company is acquired— Company, the only commercial real estate 2011: CBRE becomes the first global real estate services company for the fourth Advisors (CBRE-EA) later becomes known as CBRE Debt & firm on the distinguished list real estate services company to achieve consecutive year Structured Finance carbon neutrality 2006: CBRE merges with Trammell Crow 2015: CBRE acquired Global Workplace Company to create a real estate services Solutions (GWS) from Johnson Controls. Acquires leading firms to increase service CBRE acquires ING’s investment firm with unprecedented scale, scope and GWS is a leading provider of integrated offerings and becomes first real estate services management business in Europe and Asia service offerings facilities management solutions on a firm with a platform to deliver global real global basis estate services
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COVERAGE CBRE’S CAPABILITIES EXTEND BROADER AND DEEPER THAN ANY OTHER 5 2 , 0 0 REAL ESTATE SERVICES 44 372 PROVIDER, OFFERING UNPARALLELED TOOLS Countries a Officesb Employees c AND RESOURCES, 6,600 Sales & Leasing Professionals d LEVERAGE, CREDIBILITY, MARKET
TRANSACTIONS COVERAGE AND LOCAL EXPERTISE. SALES LEASING 20,975 $176.9B 60,000 $108.0B a. excludes 20 countries covered by affiliate offices Transactions Value Transactions Value b. excludes 90 affiliate offices c. excludes approximately 4,275 $284.9B affiliate employees d. excludes affiliate sales & leasing professionals; includes approximately 125 mortgage brokerage professionals TOTAL TRANSACTION VALUE e. includes 0.2 billion sq. ft. managed by affiliate offices f. includes loan sale advisory g. includes loans serviced by GEMSA, a joint venture between CBRE Capital Markets and GE Capital Real Estate Property & Investment Valuation & Project h. includes $0.3 billion of Long-Term Loan Loan Development Operating Assets (projects that Corp Facilities Assets Under Advisory Management have achieved a stabilized level of Originations f Servicing g in Process h Managed e Management Assignments Contract Value i occupancy or have been held 18-24 months following shell completion or acquisition) i. includes $23.9 billion of projects that were in process as of 3.7B SF $33.8B $144.7B $90.6B $5.4B 134,525 $40.6B December 31, 2014
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RESUMES
PROFESSIONAL EXPERIENCE In his current position as a Vice Chairman for CBRE Capital Markets, Mr. Francis arranges and places debt and equity on commercial real estate projects across North America, including Hawaii. He also is the Western Region Manager for CBRE’s Debt and Structured Finance Division which includes the offices located in Seattle, Portland, San Francisco, San Jose, Sacramento, Los Angeles, San Diego, Newport Beach, Salt Lake City, Las Vegas, Phoenix, Tucson, and Albuquerque.
Mr. Francis has a broad range of experience in the origination, structuring, placement, closing, and servicing of commercial real estate debt and equity for life insurance companies, pension funds, banks, government sponsored enterprises (Fannie Mae & Freddie Mac), and Wall Street sources (CMBS). He has been actively involved with debt and equity financing since 1983 and has been a multi-year Top Producer and Top-10 Producer for CBRE Capital Markets Debt & Structured Finance Division, and is a multiple year recipient of the Colbert Coldwell Circle Award of CBRE. Bruce was also the recipient of the Capital Markets Debt and Structured Finance Division President’s Award in 2014, recognizing BRUCE FRANCIS his contributions to the Debt and Structured Finance Division and the Capital Markets Group as a whole. Mr. Francis is a member of CBRE’s VICE CHAIRMAN Institutional Properties Group and is also the designated representative of CBRE Capital Markets for several of the Company’s life insurance company correspondency relationships. Lic. BK-0018505 T +1 602 735 1781 Mr. Francis joined Eberhardt Company in the summer of 1997 as part of Eberhardt’s acquisition of Kennelly Mortgage & Investment, Inc. F +1 602 735 5177 where he eventually became a Principal and its President (1987-1997), responsible for originating, packaging and supervising the closing of [email protected] permanent, construction, and equity financing of commercial real estate. Eberhardt Company was then acquired by L.J. Melody & Company (now CBRE Capital Markets) in 1999. Additionally, his extensive finance and real estate experience includes prior activities with Century Bank/ Century Bank Realty (Vice President Asset Recovery), Merrill Communications, Inc./Merrill Properties (CFO), and Contempo Construction & Realty Co. (Vice President).
EDUCATION • Arizona State University, Master of Business Administration, Finance • Arizona State University, Bachelor of Science, Marketing – graduated Magna Cum Laude • Extensive studies in Japanese language and Asian history; Bilingual - Japanese
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RESUMES
PROFESSIONAL EXPERIENCE Mr. Summers joined CBRE Capital Markets in 2000. He comes to CBRE Capital Markets with several years of Finance and Sales experience from the Consumer Lending arena, where he served as a Branch Manager for AmeriCredit Financial Services and Western Regional Sales Manager for Emerald First Financial.
In his current position as a Vice President for CBRE Capital Markets, Mr. Summers arranges and places debt and equity on commercial real estate projects across North America.
Mr. Summers has sixteen years of experience in the origination, structuring, placement, closing and servicing of Commercial Real Estate debt and equity for Life Insurance Companies, Pension Funds, Banks, Government Sponsored Enterprises (Fannie Mae & Freddie Mac) and Wall Street sources (CMBS). Dana has placed several billion dollars in real estate debt and equity with these various financial institutions over his tenure. DANA SUMMER Mr. Summers and his team have earned several awards given their top production, such as Top Team in 2004 and 2005, and one of the Top 10 VICE PRESIDENT producing teams in the company each year since 2000. He was a member of the Lippincott Circle in 2005 and 2006, based on his production. Most recently, Mr. Summers was awarded the Top Team Member designation for the Phoenix office. Lic. SA-540819000 T +1 602 735 1780 F +1 602 735 5177 EDUCATION [email protected] • Arizona State University, Bachelor of Sciences – Finance
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RESUMES
PROFESSIONAL EXPERIENCE Mr. Ybarra supports the team’s deep reach and diverse, yet focused expertise with more than 17 years of underwriting experience. He has closed more than $5 billion in successful debt and equity transactions. After joining CBRE Capital Markets with the L.J. Melody & Company’s 1999 acquisition of the Eberhardt Company, Mr. Ybarra forged such an impressive underwriting track record throughout Phoenix and Las Vegas that he ultimately opened CBRE’s Las Vegas office – where he currently works with clients on everything from loan originations and extensions, to advanced fundings, discounted payoffs and amortization reschedulings.
Mr. Ybarra is one of the only mortgage brokers within the CBRE network to essentially specialize in Mobile Home Communities, while still maintaining a repertoire and knowledge base to successfully place loans of all structures for all property types. This expertise makes Mr. Ybarra an essential resource across the CBRE platform and his expertise is repeatedly sought after and utilized by other Debt and Structured Finance groups throughout the country. ROBERT YBARRA VICE PRESIDENT Regardless of a property’s type, complexity or capital requirement, Mr. Ybarra knows what to look for and what it takes to formulate as well as validate the highest possible investment values. His command of end-user appetites and his active insight into today’s shifting underwriting criteria Lic. 596 / 15636 combines with his team’s proven solutions for the availability and selectivity of financing to empower results that consistently exceed their clients’ T +1 702 369 4859 expectations. F +1 702 369 4906 [email protected] EDUCATION • Arizona State University, Bachelor of Science; Finance
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PROFESSIONAL EXPERIENCE Shaun Moothart joined the Newport Beach office of CBRE Capital Markets Debt & Structured Finance in 2013. Prior to joining CBRE, he served as Vice President with The Alison Company, where he specialized in the origination and placement of debt for various life company correspondent relationships.
Mr. Moothart has successfully played a key role in the origination, underwriting and closing of transactions valued in excess of $1 billion with various lenders including life insurance companies, investment banks, pension funds, commercial banks and government sponsored enterprises (Fannie Mae & Freddie Mac). Mr. Moothart’s experience spans all product types including multi-family, industrial, retail, office and self-storage in markets across North America. Mr. Moothart is focused on providing best-in-class financing solutions and service to commercial property investors and developers.
SHAUN MOOTHART EDUCATION VICE PRESIDENT • University of San Diego, Bachelor of Arts; Business Administration, Emphasis in Real Estate and Finance Lic. 01773201 T +1 949 509 2111 F +1 949 725 8545 [email protected]
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PROFESSIONAL EXPERIENCE Ms. Tunsky harnesses more than 6 years of experience in commercial real estate and corporate finance. She works closely with all members of the team to help ensure all underwriting materials are executed with exhaustive attention to detail and are presented to lenders with both efficiency and transparency. She oversees the preparation of financing offering memorandums, works directly with lenders during the quoting process and then provides responsive assistance during application and commitment negotiations and during the loan closing process for both borrowers and lenders.
Prior to joining CBRE Capital Markets’ Debt and Structured Finance in 2013, Ms. Tunsky interned with CBRE Debt & Equity Finance in Hartford, Connecticut, was an Investment Management Analyst at Hart Realty Advisors in Simsbury, Connecticut and most recently a Senior Financial Analyst at Intel Corporation in Phoenix, Arizona. She has a Bachelor of Science in Real Estate & Urban Economics from the University of Connecticut and an MBA from the University of Arizona. KATIE TUNSKY SR. PRODUCTION ANALYST EDUCATION Lic. • University of Connecticut, Bachelor of Science in Real Estate & Urban Economics T +1 503 221 4875 F +1 503 221 4873 • University of Arizona, Master of Business Administration [email protected]
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PROFESSIONAL EXPERIENCE Ms. Singh brings over 7 years of accounting experience to her new position at CBRE in Capital Markets, Debt and Structured Finance. In addition to her extensive background in accounting, she was most recently employed in the Tucson CBRE office as a Research Analyst where she was charged with database management, market reporting and analytics, and the research, writing, and proofing of market intelligence reports.
In her current role, Ms. Singh works in concert with other integral members of the Debt and Structured Finance team to provide transactional support in the loan underwriting and closing process. She creates comprehensive loan analyses and financing memorandums for a range of loan structures across various property types and market locations.
She holds a Master of Real Estate Development (MRED) degree from the University of Arizona and is currently pursuing an MBA from the same institution. RICHA SINGH SR. PRODUCTION ANALYST EDUCATION Lic. • University of Arizona, Master of Business Administration, 2017 Candidate T +1 602 735 5621 F +1 602 735 5177 • University of Arizona, Master of Real Estate Development [email protected] • University of Phoenix, Bachelor of Science in Business Administration, Accounting
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© 2016 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.