Success Stories
Harness Our Strength
We get you a seat at the table and move through Servicer inertia. We bring rigor to the process and create timely pivot points to change the conversation. We know how Servicers think. What fits their constructs. We can predict their responses and next moves. We have access to people you probably don’t even know exist.
We deliver better outcomes.
Loan Assumption
$41,000,000
Multifamily | Boston, MA
A multifamily investor engaged The Henley Group to manage the assumption of three CMBS loans secured by separate property portfolios. The existing financing carried a weighted-average interest rate in the low 4% range, compared with average CMBS rates in the low 6% range at the time. With substantial time remaining before maturity, retaining these loans offered a significant financial advantage. Each transaction presented its own documentation and property-related challenges. Working with multiple asset managers at the same servicer, navigated the approval process, addressed outstanding issues, and managed risk to keep the transactions moving toward closing. All three loan assumptions were successfully completed through coordinated, staggered closings, enabling the investor to acquire the portfolios while preserving attractive, below-market financing.
Loan Trigger Cure
$30,000,000
Office | Denver, CO
A Denver office owner faced servicing delays that disrupted operations and cash flow. Pending approvals for the Property Management Agreement and access easement froze critical leasing commissions, prompting rent holdbacks from the anchor tenant. The Henley Group facilitated a transfer to Special Servicing while minimizing fees, submitted a comprehensive resolution proposal, and coordinated with the Mezzanine Lender and other stakeholders. THG secured retroactive approvals, recorded easements, and the release of withheld funds, curing the alleged defaults, restoring operating cash flow, and returning the loan to Master Servicing while preserving value for all stakeholders.
Loan Extension
$18,000,000
Medical Office | New York
A single tenant, long term leased medical facility with strong performance should be an easy refinance. Not in this scenario. This Upper West side property hit maturity and due to rising interest rates and cap rates could not find itself a refinance. The Henley Group stepped in and negotiated hard with the servicer to give the Borrower more than two additional years of time to deleverage and ultimately seek more suitable exit options.
Loan Extension
$40,000,000
Land Development | San Francisco, CA
A prominent California Developer had two separate (non-cross collateralized) bridge loans totaling roughly $40MM on pre-construction land that had reached maturity. Adverse economic conditions, coupled with exorbitant building cost increases, prevented the owners from moving forward with the construction of two apartment towers. Additionally, the debt carried an expensive floating interest rate coupon, and the property generated very little cash flow but for some minor parking income. The debt fund Lender was seeking a complete payoff of both loans. Absent a full payoff, the Lender wanted a significant equity contribution as a prerequisite to extending the loans. After a long negotiation, The Henley Group negotiated multi-year extensions, reduced interest rates, and a de minimis new equity contribution from the sponsorship.
Loan Extension
$9,000,000
Hotel | Indianapolis, IN
A Midwest hospitality developer and owner was facing a maturity of a 10-year CMBS loan Even with a recent significant PIP renovation, the Borrower was unable to refinance due to recent performance (some of which was related to downtime associated with the PIP renovations). The Henley Group laid out the story and business plan for the seasoned Special Servicer. The result was a two-year extension of the CMBS loan with two additional one-year options. While the Borrower had to contribute some capital, it gave them the runway it needed to improve operations and prepare for an organized refinance down the road.
Loan Modification
$55,000,000
Hotel | Denver, CO
A major hotel Owner with properties nationwide faced challenges securing new financing before a pending loan maturity date. Still recovering from the pandemic, their 297-key full-service Denver hotel needed more time and money to sustain progress. THG stepped in early to proactively engage the Special Servicer, shut down a potential maturity default, and successfully negotiated a loan modification and extension of the $55 million CMBS transaction$55 million. Retaining this legacy property was deeply personal to the Borrower, and the modification agreement offered an optimal solution given the hotel’s current state. The Borrower agreed to a slightly higher interest rate and an equity contribution, which helped reduce the unpaid principal balance (UPB) and strengthen the FF&E reserve for future improvements. This best possible outcome supported the Borrower’s commitment to the property while positioning it for future success.
“I can’t say enough positive things about David Goldfisher and The Henley Group. A CMBS loan in our portfolio required modification in order to align incentives and create a structure to allow for $5,000,000 of new investment into the property that would be senior to a portion of the debt. David helped guide us through a complex process, interfacing with the special servicer and helped us achieve a great outcome. We highly recommend him!”
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