Acquired mezzanine debt at a deep discount. A 1,310-key full-service resort on Waikiki beach. Asset included six on-site restaurants, 50,000+ square feet of meeting space with extensive retail and parking. The property underwent a complete renovation. Capital stack comprised of three tranches of debt, including CMBS, and equity.
Acquired mezzanine debt at deep discount and converted to ownership. A 514-key luxury hotel adjacent to a world-class golf course, with five-swimming pools, multiple restaurants, meeting space, and spa. The property opened in 1988 and was renovated in 2017. Capital stack comprised of three tranches of debt, including CMBS, and equity.
CDO Bond Acquisitions
Acquired public CRE CDO bonds at deep discounts relative to the intrinsic value of their CRE collateral while maintaining CDO term-liabilities. Reinstated the CDO’s investment rights and enabled the acquisition of additional third-party assets at deeply discounted prices.
Restructured mixed CRE portfolio of assets. Opportunistically acquired hotel and other deeply mispriced assets.