Anthony DiChiara’s Post

Commercial Observer posted about my new article regarding CPACE financing - including new CPACE hybrid lending alternatives. Tough CRE capital markets require creative solutions. I will post a link to the actual article in the near future. #cpace #capitalmarkets #crefinance

Dave Portnoy to Thor Equities: "Hold my Beer" Just 5 months after selling the remaining portion of Barstool Sports to Penn Entertainment for a total of $551M, Portnoy reacquires his company for........$1. While it was nice watching the stock run up from $4 to $140, this partnership fizzled faster than their cup of coffee in the S&P500. The relationship handcuffed each other's potential and stymied their goal of gaining market share. It would be easy to look at the $800M loss PENN will be reporting as a failed investment but it's difficult to imagine their dream deal with ESPN happens without this saga. Barstool built PENN a rabid fan base and forced them to invest in better infrastructure & technology. Pivoting from Portnoy to Mickey Mouse is an incredible move by CEO Jay Snowden and shows an ability to check your ego, ala Jocko Willink and capture a better opportunity for success. Rarely do you see such a public breakup result in a win-win for all parties. PENN gets the backing of Disney and Portnoy regains his life source. TLDR: One bite everyone knows the rules, then proceed to eat entire slice.

Discover how VWR Capital Corp. navigates the unpredictable real estate market, ensuring both investors and borrowers are secure. National Sales Manager Steven Lang RRC® shares insights on balancing interests in 2023. https://hubs.la/Q028cG160 #RealEstateInvesting #FinancialSecurity #MarketTrends #InvestResponsibly #BorrowerCare

🌟 Debtwire’s top stories of the week 🌟 To kick off the week, I’m sharing the top stories that captured my attention on Debtwire’s platform from the past 7 days: 1. Wheel Pros outlines agreement with lenders in cleansing docs (bit.ly/3PH5xdV) - Wheel Pros revealed a new money and refinancing deal with approximately 70% of its term loan lenders that will enhance the cash-strapped company’s liquidity by around $180 million and reduce its debt by roughly $137 million. The company has offered the remaining 30% of loan holders the option to participate in the deal pro-rata. 2. Joann’s FA for lenders emerges as ad hoc group remains on standby to kickstart talks (https://bit.ly/3PjOGNX) - An ad hoc group of Joann's lenders is being assisted by financial advisor Lazard as it gears up for talks with the retailer. Joann has yet to engage in discussions with the lender consortium, opting to wait and see if it can manage its liquidity through the year and release cash in the fourth quarter. 3. Live reporting of Yellow Corp’s final DIP (https://bit.ly/3reATjB) - Trucking giant Yellow Corp came to court on Friday in the US Bankruptcy Court for the District of Delaware seeking approval of bid procedures to final authorization of its debtor-in-possession financing facility. Debtwire’s team live blogged the hearing. 4. The case worsens for Hawaiian Electrics (https://bit.ly/3Lpiyal) - Debtwire reported that Hawaiian Electric’s transmission and distribution system is not insured against loss or damage, while it faced several legal claims filed as a result of the devastating Maui wildfire. As the case continues to progress, the legal claims against the company could exceed its USD 2.4bn book equity. 5. Debtwire published its 1H23 LATAM Restructuring Insights Report (https://bit.ly/3PeBzgW) - This edition examined newly commenced and closed restructurings within Latin America, as well as globally of LATAM-based companies during H1 2023. Debtwire found restructuring situations in Latin America to have increased significantly from 2022. Read the report to find out more. Let me know your thoughts on last week’s news and comment below with any other news that captured your attention. #restructuring #distresseddebt #bonds #chapter11

WHAT WE KEEP HEARING OVER AND OVER AGAIN!!! We have been very busy going into the new year, so have made it a point to schedule as many face-to-face 😁 meetings as possible. We have attended leading industry conferences as well as blitzing 📌 specific major cities where we have a multitude of clients and capital sources. AND regardless of who we are speaking with, there seems to be one topic that always gets brought up! RECAPITALIZATION!!! Due to various factors within the current capital markets environment, Sponsors are having to restructure the entire capital stack of their deal because a simple refinance of the current senior debt won’t get the job done! Although, we have seen a multitude of scenarios where a structured solution is required, here are the most common situations for which it typically utilized and effective: 1) Sponsor is refinancing from high leverage bridge debt into lower leverage, fixed rate, permanent financing and the new loan is not sizing large enough to take out the entire, current outstanding principal balance either due to LTV, LTC or DSCR constraints. 2) Sponsor is working on a loan extension or negotiating a modification with their current senior debt lender and need additional capital to buy down the principal loan amount or to purchase a new rate cap. In theory, recapping a deal seems very simplistic, however, in practice, most scenarios are very complicated and nuanced. Therefore, we have made it a point to understand💡the intricacies of the process as well as further cultivating our strong relationships with our equity capital sources that are focused on and intimately familiar with the components and structures required to accomplish the best outcomes possible for all parties involved. Over the last few months (and it’s becoming more and more prevalent every day), in addition to our core business, we have been inundated with these types of scenarios which has led to increased deal flow, closed transactions and revenues, as well as enhanced client satisfaction and appreciation! There is as much available capital today for CRE transactions as there has been in a long, long time and we have multiple sources that are cash-laden – Please let us know if you have a deal to show us!!! 📧 equity@greencirclecg.com Green Circle Capital Group Michael Krohn

See how auto lenders can obtain a more comprehensive view of a borrower's financial situation and more readily approve auto loan refinancing applications: https://lnkd.in/eW4x7Zw4

💸Lenders often face common challenges when reviewing acquisition loan applications. 👉 https://hubs.la/Q02ml0t30 Check out our blog to learn about the top five obstacles lenders encounter during the acquisition loan process. #acquisitionlending #buyabusiness

JUST FINANCED - $4.6MM Acquisition Loan - San Antonio, TX 77% LTV (in this market?!)  Now more than ever, you need to be partnered with a highly specialized and experienced debt team to best position your financing through the volatility. 77% LTV with a 3,1,0,0,0 prepay and 1 yr of interest only is about as good as it gets right now. Let us know if we can be a resource on your next deal or if you’re interested in learning more about this one. Sam Ha Cameron Heath Dominic Boland #capitalmarkets #CBRE #apartments #multifamily #realestate #realtor #CRE #multifamilyrealestate #CREfinance #refinance #commercialrealestate #mortgagebroker #closeddeal #capitalmarkets #money #sanantonio #texas