We’ve been writing about San Diego developer Malcolm Davies and Breakwater Equity’s successful commercial loan modification on a broken construction project in downtown San Diego. It’s a great case study because of the tough situation they were in and the fact that the bank was not budging on their position, making the prospects of a successful workout slim.

Malcolm was interviewed this past week by the Real Estate Guys Radio Show, one of the most popular real estate radio shows and podcasts in the country. Each of these interviews and articles listed below reveal new and interesting insights into the market we are in and what it takes to work with the banks.

Continue reading “Real Life Commercial Loan Modification Story: Real Estate Guys Radio Show Interview With Malcolm Davies” »

Breakwater Equity just passed the $1 Billion dollar mark in workout project engagements. We thought it would be beneficial to our readers to look at some of the lessons learned while working through the myriad issues contained in over a billion dollars worth of commercial loans. Here are some of our favorites that come to mind.

Share all information about the deal early in the process, and keep sharing: Our ability to successfully negotiate with the various players in a workout is hugely influenced by the quantity and quality of the information we have about the situation. Many times clients unknowingly withhold vital information thinking that some pieces of information just simply weren’t relevant. Everything counts, so let us know. In addition, time is usually of the essence, so getting all of the pertinent documentation between the various parties is vital to us beginning the engagement.

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Peacock Gap Golf Course

We recently had the chance to sit down and interview George Lee, the General Manager for several golf courses that were devastated by the recent economic downturn. George has a unique perspective on Breakwater’s successful commercial loan workout strategies having seen firsthand other groups try to achieve the same result but unable to navigate through the various workout minefields. Here are some excerpts from that interview.

What was your challenge at the time, and how did you end up hiring Breakwater Equity?
The owner I worked for had golf courses in Arizona and I had recommended we hire Breakwater Equity Partners to help perform a commercial loan workout on those properties. But based on advice from our attorneys at the time, the owner decided that we should attempt the workouts on our own with the help of our attorneys, and that experience did not go well.

Continue reading “Unique Insights From A Commercial Loan Workout Client-Interview with George Lee” »

Previously we wrote about performing a successful commercial loan workout on a broken construction project in downtown San Diego. You can read that article here. We had a chance to sit down with San Diego developer Malcolm Davies and interview him about his recent experience. Here is a transcript of that interview.

Continue reading “Interview With Developer Malcolm Davies on Successful Broken Construction Commercial Loan Workout” »

A strategically designed commercial workout that combined loan modification, bankruptcy, and a “White Knight” investor saves country club from imminent foreclosure and breathes new life into a 50-year old San Rafael institution.

San Diego, CA (PRWeb) March 16, 2011 – Breakwater Equity Partners, a consulting firm specializing in commercial loan workouts, announced today the successful restructuring of Peacock Gap Country Club and Spa, a 50-year old golf course located in San Rafael, CA. Foreclosure on the 137 acre, 18-hole golf course was averted when a new investor purchased the defaulted note from the lender, Nara Bank.

Continue reading “Commercial Loan Workout Provides Welcome Relief to Troubled California Golf Course” »