We represent a major investor who is seeking to acquire a large real estate asset or portfolio which aside from having good economics, will also provide the buyer with a large defeasance, prepayment or yield maintenance penalty upon paying off the first mortgage when they close on acquiring the real estate.
In other words, our client is looking to make a new real estate acquisition and simultaneously assume the existing mortgage debt, which they will then simultaneously refinance producing a significant defeasance and/or prepayment penalty upon paying off the existing loan.
We have completed several transactions with this client and have closed other defeasance transactions with them. As such, we strongly encourage you to contact the undersigned to discuss any appropriate opportunities. As I am sure you know, given the low interest rate environment there are many owners who are saddled with assets which they would like to sell but for a high defeasance and or prepayment penalty which our unique structure can mitigate.
We welcome broker submissions and will pay a brokerage fee upon consummation of a transaction. We look forward to hearing from you.
Howard L. Michaels
The Carlton Group
560 Lexington Avenue – 10th Floor
New York, NY 10022
(212) 716-5607 office