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
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.
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.
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.
Small and mid-size borrowers seek alternative financing solutions.
Growth of independent private lenders in a fragmented market.
Commercial real estate provides rental income as well as the potential for capital appreciation.
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
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.
Loans
Value add/acquisition transitional bridge loans based on conservative loan-to-value (LTV) and loan-to-cost (LTC) ratios provide substantial downside protection.
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.
Confidas' unique added value is deep market knowledge and lender selection
…which combined with the strength of our relationships, allows us to source unique opportunities and develop attractive products for our investors
Confidas Process
Selection of Lenders
Product Development
Monitoring
Exit
• Proven local knowledge & business acumen
• Distinguished track record including during stressed markets and in distressesd situations
• 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.
Confidas follows each transaction closely
and develops a communication channel with investors to keep
them informed and ready
to make decisions if needed.
• Co-investment capacity “skin in the game”
• Duration
• Loan payoff-exit
• Strong legal, market, investor references and crosschecks
Confidas actively assists in sourcing and closing secondary transactions.
• Internal loan servicing capabilities
• CRE development expertise
U.S. CRE - Selected Transactions
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
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
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
11 Properties in Development, Construction and Lease-up
Collateralized Bridge Loan
Total Loan Size: $8,000,000
Confidas co-investment: $8,000,000
Term: 24 months with extension option
May 2018
Senior Housing Portfolio Northeast & Midwest U.S.
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
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
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: 36 months with extension option
September 2018
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
Silicon Valley
San Jose, CA
Partially Built Residential Condo
Complete Construction and Sell-Out
First Mortgage Loan
Total Loan Size: $41,875,000
Confidas co-investment: $4,000,000
Loan To Value (“LTV”): 60.8%
Term: 24 months with extension option
October 2018
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
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
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
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
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
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
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
Conover Street
Brooklyn, NY
Residential Condominium
Senior B Note Construction Loan
Total Loan Size: $19,250,000
Confidas co-investment: $3,000,000
Loan To Value (“LTV”): 66%
Term: 17 months with extension options
July 2021
Delray Beach, FL
Hotel Construction Refinancing
First Mortgage Loan
Total Loan Size: $85,750,000
Confidas co-investment: $3,000,000
Loan To Value (“LTV”): 67%
Term: 23 months with extension options
August 2021
Stone Mountain, GA
Multifamily
Bridge-to-HUD Refinancing
Total Loan Size: $32,000,000
Confidas co-investment: $2,625,000
Loan To Value (“LTV”): 71%
Term: 18 months
November 2021
Midtown
Manhattan, NY
Condo Inventory Refinancing
Total Loan Size: $45,000,000
Confidas co-investment: $6,394,000
Loan To Value (“LTV”): 59%
Term: 20 months
April 2022