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Confidas Capital Advisors

Confidas Capital Advisors was created in 2004 as a platform

for alternative investments.  Since inception, it has completed over US$ 2.2 billion of co-investments in direct transactions and funds.

 

Leveraging its long track record of advising investors in many different

asset classes, the platform developed a specialization in co-investments

in U.S. commercial real estate (“CRE”) equity and debt.

 
 

U.S. Real Estate middle market debt investment thesis

Highly fragmented market with unique opportunities due to regulation

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Background

Post 2008 financial crisis: traditional banks moved away from middle-market commercial real estate lending due to regulatory constraints.
Private debt space sees tremendous growth.
Small and mid-size borrowers seek alternative financing solutions.
Growth of independent private lenders in a fragmented market.
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C.R.E

Properties used specifically for business or income-generating purposes.
The main classes of commercial real estate include:  multi-family rentals;  for–sale residential (condos);  industrial;  office and healthcare facilities.
Commercial real estate provides rental income as well as the potential for capital appreciation.
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Confidas Lenders

Well established middle-market private lenders.
 Co-invest minimum of 10% of each loan
originated (“skin in the game”).
 Loan portfolios above $300 million.
Seasoned management and underwriting teams.
20+ years’ experience in CRE loan structuring / navigated economic cycles.
Well positioned to identify risks and  generate strong returns for investors.

Potential For Attractive Returns with Excellent Collateralization

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Borrowers

High quality real estate developers/operators
with strong balance sheets providing
significant guarantees.
Key criteria for borrowers' lender selection:
speed, certainty of close, non-recourse.
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Loans

Value add/acquisition transitional bridge loans based on conservative loan-to-value (LTV) and loan-to-cost (LTC) ratios provide substantial downside protection.
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Income

Most loans are current pay with monthly
or quarterly income.
Potential for favorable taxation treatment for
non-US investors.
 

Target Market: U.S. Real Estate Middle Market

Assets which can benefit from bridge loans in order to maximize value prior to exiting into permanent facilities.

First mortgage and subordinated loans providing value add capital to transitional assets.

Commercial properties in major U.S. urban centers with high-quality sponsors.

Loan sizes:  $20 million to $200 million.

Term:  12 – 36 months.​

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Confidas' unique added value is deep market knowledge and lender selection

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…which combined with the strength of our relationships, allows us to source unique opportunities and develop attractive products for our investors

Confidas Process

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Selection of Lenders

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Product Development

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Monitoring

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Exit

• Proven local knowledge & business acumen

• Distinguished track record including during stressed markets and in distressesd situations

• Co-investment capacity “skin in the game”

• Loan seniority

• Asset

• Geography

• Guarantees

Although loans have

short to medium term duration, investors may require an exit prior to maturity due to unforeseen circumstances.

• Strong legal, market, investor references and crosschecks

• Duration

• Loan payoff-exit

Confidas follows each transaction closely

and develops a communication channel with investors to keep

them informed and ready

to make decisions if needed.

Confidas actively assists in sourcing and closing secondary transactions.

• Internal loan servicing capabilities

• CRE development expertise

U.S. CRE - Selected Transactions

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West Village

New York, NY

Townhouse and Condo Development Mezzanine Loan 

Total Loan Size: $15,500,000

Confidas co-investment: $11,300,000

Loan To Value ("LTV"): 61%

Term: 24 months with extension option

August 2017

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11 Properties in Development, Construction and Lease-up

Collateralized Bridge Loan

Total Loan Size: $8,000,000

Confidas investment: $8,000,000

Term: 24 months with extension option

May 2018

Senior Housing Portfolio Northeast & Midwest U.S. 

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Malibu, CA

Mixed-use development

Repayment of Existing Debt & Funding of Predevelopment Costs

First Mortgage Loan

Total Loan Size: $38,340,000

Confidas co-investment: $2,000,000

Loan To Value ("LTV"): 60%

Term: 33 months

May 2018

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Livingston St. Brooklyn, NY

Hotel Construction and Stabilization First Mortgage Loan

Total Loan Size: $29,000,000

Confidas co-investment: $5,500,000

Loan To Value (“LTV”): 54.7%

Term: 24 months with extension option

September 2018

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Calvert Rd. Harrison, NY

Luxury Multifamily Rental

Construction and Stabilization

First Mortgage Loan

Total Loan Size: $20,000,000

Confidas co-investment: $5,000,000

Loan To Value (“LTV”): 60.6%

Term: 30 months with extension option

September 2018

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Silicon Valley Fremont, CA

Partially Built Residential Condo

Complete Construction and Sell-Out

First Mortgage Loan

Total Loan Size: $45,000,000

Confidas co-investment: $6,500,000

Loan To Value ("LTV"): 61%

Term: 18 months with extension option

October 2018

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Silicon Valley

San Jose, CA

Partially Built Residential Condo

Complete Construction and Sell-Out

First Mortgage Loan

Total Loan Size: $41,875,000

Confidas investment: $4,000,000

Loan To Value (“LTV”): 60.8%

Term: 24 months with extension option

October 2018

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28th Street

New York, NY

Mixed-Use Residential Condominium Construction and Sell-Out Financing First Mortgage Loan

Total Loan Size: $22,500,000

Confidas co-investment: $5,000,000

Loan To Value (“LTV”): 68.4%

Term: 24 months with extension option

January 2019

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West 81st Street

New York, NY

Condo Ground-up

Development

Senior B Note Loan

Total Loan Size: $7,000,000

Confidas co-investment: $2,750,000

Loan To Value ("LTV"): 59%

April 2018

Term: 30 months with extension option

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West End Avenue New York, NY

Multifamily (rental)

condo conversion 

Mezzanine Loan

Total Loan Size: $55,000,000

Confidas co-investment: $4,500,000

Loan To Value (“LTV”): 65%

Term: 18 months with extension option

September 2018

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Fifth Avenue

New York, NY

Mid-Construction Hotel

Senior B Note Loan

Total Loan Size: $25,000,000

Confidas co-investment: $2,000,000

Loan To Value (“LTV”): 54%

Term: 24 months with extension option

November 2018

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Franklin Street

New York, NY

Tribeca Condominium Ground-up Development

Mezzanine Loan

Total Loan Size: $13,500,000

Confidas co-investment: $12,500,000

Loan To Value ("LTV"): 66%

Term: 36 months with extension option

March 2019

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Second Avenue

New York, NY

Mixed-use for Sale

Ground-up Development

Senior B Note Loan

Total Loan Size: $10,000,000

Confidas co-investment: $6,000,000

Loan To Value ("LTV"): 66.5%

Term: 36 months with extension option

November 2019

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Gleenwood Landing

New York, NY

Residential Condominiums

Construction and Sell-Out

First Mortgage Loan

Total Loan Size: $59,600,000

Confidas co-investment: $3,000,000

Loan To Value (“LTV”): 66.7%

Term: 11 months with extension option

December 2020

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Biscayne Blvd

Miami, FL

Condo Inventory

Senior B Note + Mezzanine Loan

Total Loan Size: $36,000,000

Confidas co-investment: $3,500,000

Loan To Value (“LTV”): 60%

Term: 12 months with extension options

March 2021

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Brooklyn, NY

Multifamily Rental Development

Co-Investment with Project Developer

Total Equity: $25,100,000

Confidas co-investment: $18,200,000

Construction completion estimated: 1Q. 2023

April 2021

Centre Avenue

Pittsburgh, PA

Mixed-Use Multifamily and Retail

Construction and Stabilization

First Mortgage Loan

Total Loan Size: $33,250,000

Confidas co-investment: $3,000,000

Loan To Value (“LTV”): 63.7%

Term: 16 months with extension options

June 2021