18A — May 16 - 29, 2014 — M id A tlantic
Real Estate Journal
www.marejournal.com
F inancial D igest
Providing financial advisory and loan placement services Miller of GFCIB and Advisors closes on a discounted note purchase financing transaction
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partnership located in the suburbs of Philadelphia. The ownership engaged GFCIB and Advisors, LLC to provide financial advisory and loan placement services to them. The collateral involved was a class A office building con- sisting of 40,000 s/f which was put in foreclosure by a major national default servicer. A sheriff sale date was set. To make matters more compli- cated, the asset was owned by its partners in Tenants in Common (“TIC”) structure. The TIC aspect just added another layer to deal with
amongst the partners. “Negotiating a discounted payoff and obtaining new financing was a great re- sult for all parties”, said H. Jack Miller who personally handled this transaction. In addition, Miller stated: “We spend a lot of time getting to know our clients, the project and motivations everyone has, and then we worked with all stakeholders to obtain the best possible out- come. Sometimes this includes obtaining discounted note purchase financing, loan and mortgage modification and/or
financial restructuring with our without new equity. We were pleased that we effected a positive result prior to the “hammer coming down”
on this asset.” Protecting, advocating and satisfying the needs and de- sires of our client’s one trans- action at a time. n
HILADELPHIA, P A — GFCIB and Advi- sors, LLC , a nationally
r e c ogn i z ed financial ad- vocate and advisory firm for commer- cial real es- tate owners, developers, builders and m i d s i z e d
RCS Capital Corporation scores acquisition of the Cetera Financial
billion in cash. The transaction creates the second largest independent financial advisor network in the nation adding some 6,632 financial advisors to RCAP’s growing retail financial ad- visory platform. The deal supports the company’s vi- sion of providing customized financial solutions that help investors achieve their overall investment and retirement goals through access to a full spectrum of advice, service, credit products and innovative investment solutions. “We are pleased to complete this game changing transac- tion well ahead of schedule,” said Nicholas Schorsch , executive chairman of RCAP. “Working with Don Marron and the Lightyear Capital management team has been a smooth and efficient pro- cess, and we appreciate their professionalism and commit- ment to getting the deal done in a timely manner. We look forward to continuing to work with the exceptional senior management team at Cetera building upon the success and strong track record they have achieved.” Schorsch further comment- ed, “This is truly a watershed event for RCS Capital and the industry as a whole. Cetera will become the centerpiece of our financial services strategy to construct and operate the best independent financial retail advice platform in the industry, and act as the hub of our integrated broker-dealer strategy. As a result, we are now one of the most influential integrated financial services companies in the retail sector. With the addition of Cetera, we will not only dramatically expand our national footprint, but we shall be in a position to furnish the best financial ad- vice to our clients through one of the largest customized advi- sor platforms in the country.” “The completion of this transaction provides RCAP with immediate benefits and added capabilities,” said Wil- liam Kahane , the company’s CEO. n
EL SEGUNDO, CA — RCS Capital Corporation (RCAP) has closed its previ- ously announced acquisition of the Cetera Financial Group (Cetera), an independent bro- ker-dealer headquartered in El Segundo, from affiliates of Lightyear Capital for $1.15
H. Jack Miller
businesses, announced that it has once again successfully closed on a discounted note purchase financing transac- tion for a Private Real Estate
A ttention owners of commerciAl & investment reAl estAte
Has your lender called your loan? Is your property underwater? Do you have negative cash flow? Is your loan in workout? We’ve been there before!
Our Specialties : Real Estate Crisis Management, Restructuring, Discounted Note Purchase Financing, Workouts, Modifications, and Bankruptcy Support
GFCIB andAdvisors, LLC Real Estate&Financial Restructuring Call 215-947 2974 Ext 237 GFCIB.com - Email: JackMiller@GFCIB.com All Initial consultations are FREE
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