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” »

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” »

Commercial loan workouts are being used successfully as a tool to reduce loan payments on distressed commercial real estate and help owners survive the record-breaking recession.

San Diego, CA March 28, 2011 – Breakwater Equity Partners, a consulting firm specializing in commercial loan workouts, today announced the firm has surpassed $1 billion in total loan workout volume. The 21-person firm, located in San Diego, CA, has been doubling every ninety days to accommodate the growing demand for commercial loan modifications.

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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” »