OUR PERFORMANCE

"I am working with Breakwater Equity Partners on four of my TIC’s with excellent results to date.  They are working on one of my TICs in Georgia which was financed by a bank that has financed multiple TIC deals.  It is in the beginning stages but should result in getting the loan modified to a level which will allow the property to operate economically.  We had hired an attorney to talk to our bank about a commercial loan modification with no results.  We had major vacancies and could not make our mortgage payments.  The bank instituted foreclosure, we hired Breakwater, who then stopped the foreclosure and the bank has now agreed to negotiate.  Breakwater, after having reviewed much of our documentation and interviewing many co-owners has concluded we have strong legal issues against the TIC sponsor.  They quarterbacked legal on another TIC of mine and on Thanksgiving weekend, we got the good news that we won, big time.  Finally, some really good news.”

– Jack L, Nevada

"There are many groups that advertise what Breakwater does, but most developers don’t believe that they can actually do something. I was skeptical at the start as well, because of run-in’s with other groups that tried to help prior to Breakwater. Thus, at the end of the day the biggest factor I would say in why someone would hire Breakwater is that they are legitimate and have a stronger team to accomplish the goal of bank capitulation than anybody in the country."

– Malcolm D, California

"A lot of people were caught off guard by the sudden collapse of the economy and real estate market. I know we weren’t the only ones. We were in the hospitality industry and thought we could ride it out. We felt we had solid, personal relationships with our bank and tried to work with them. We just about exhausted all of our reserves pumping more and more money into the properties. It was a very emotional and personal experience, and hesitating was our biggest mistake. By the time we put our emotions aside, took some wrong turns with other professional advice, it was almost too late. We had already begun losing properties with no end in sight. Boy do we wish we had gone to Breakwater sooner, but frankly we just didn’t know who to turn to. We didn’t need to go through the pain we did. Lesson learned, so I pass it on.

Finally we heard about Breakwater and engaged their commercial loan workout services. They immediately understood what we were going through and became a strong ally and partner. Our bankers of 30 years had stopped communication with us, but Breakwater instantly got their attention. They got us an incredible resolution that I believe no one else could."

– George L, Arizona

"I have nothing financial to gain by saying this, but I want people to know, you are doing them a favor. I wasted so much time, effort and money trying to please my bank, plus I was afraid of what they would do to my credit. All I wanted was to get a lower interest rate and be able to make my payments. Instead, I spent a year going back and forth, using capital that I shouldn’t have, until I had no more to give. I had finally reached my pain threshold.
Breakwater Equity made me realize the bank had behaved inappropriately and could do no more to me. I got the support I needed and peace of mind. In fact, I got my first good night’s sleep! I thought I’d lose my business, be held personally responsible, and basically be ruined. Breakwater relieved me of all those outcomes."

– Ken C, California

"I had some previous experience working with a key person at Breakwater on behalf of another client, so I already understood the competency and capabilities of this consultant. However, in my situation where we really had very little leverage against our construction lender, and we were facing a loan maturity date, with no way of getting a reasonable permanent loan for approximately $25 million. The lender wanted significant additional capital contributions from the equity owners, along with multiple personal guarantees on the entire loan. We tried working it out through various discussions, but our lender obviously knew it had the upper hand and refused to negotiate in good faith, because it could always drop the foreclosure hammer on this newly developed and mostly leased shopping center.  Once we involved BreakWater to help with a commercial workout, the lender’s attitude softened remarkably, and we successfully worked out our loan without having to contribute additional out-of-pocket funds and without having to personally guarantee the entire loan. Breakwater’s knowledge and experience improved our leverage and helped us find a solution that satisfied both the lender and the equity owners, thereby preserving our investment."

– Larry M, California

"Being an experienced medical professional unfortunately did not mean I was qualified to be a player in the real estate development arena, but it seemed like a good idea at the time. I got myself into a situation where I was left holding a large piece of land. The developer had pulled out, and my bank did not want to renegotiate my terms. I had been making payments for 3 years and could no longer keep my head above water. I was upside down in my loan, the land was overvalued, and I was on the verge of losing my retirement savings and my home. Breakwater’s expert team knew what the real estate issues were, the legal mistakes, and the health and strength of my bank.

I needed more than just a lawyer or CPA, and Breakwater had that – and more, under one roof. They could approach my commercial loan workout negotiations from every angle. In the end, Breakwater saved my home, reduced my loan and released me of my personal guarantees. I am just glad to be out of the whole situation, and back to doing what I do best."

– Dr. O, Arizona

"I wish we had called Breakwater eight months before we actually did. We just kept accumulating debt while we tried to sort ourselves out. When the bank pulled the plug on our financing, we were left with a hole in the ground. We had considered hiring high-powered attorneys, but feared being tied up in very costly litigation that could go on for years. When we met with Breakwater to discuss a commercial loan workout we had less than 60 days before foreclosure. Under this time crunch, they were able to halt foreclosure, reduce our debt, and assisted us with the sale of the project to another developer. We couldn’t believe the resolution.

From my perspective, the key factors that made Breakwater successful was their ability to get our entire group to the table and not only that, but to get us to agree. It sounds easy, but it wasn’t. Plus, they knew what and how financial institutions respond in these situations, basically they speak the banker's language. They’ve had the experience and knowledge that lenders will take seriously. Our bank hadn’t spoken to us in nearly a year, yet they talked to Breakwater immediately. Although they played hard ball with the bank, the fact that they were not lawyers was a less adversarial approach and the bank settled with them.

It’s hard to know who to trust when you’re in trouble. People say they will help you, but they’re really out to make money and take advantage of you. We totally trusted Breakwater, they have such integrity, and that feeling of partnership was comforting throughout a very stressful situation."

– Anthony M, California

"I was referred to Phil at Breakwater through a reputable source, so I did have that comfort level right off the bat. I wasn’t immediately sure about the 2-phase commercial workout process and what value I would get out of it, but now, looking back I see the need to do it like that. The professionals at Breakwater have been knowledgeable, timely, and have put complicated terms and strategies into layman’s terms. The end result was an in-depth analysis of my situation with credible options to pursue. Time well invested."

– Kent H, Oregon

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