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Debt & Equity

Mission Capital arranges $309M portfolio loan

Mission Capital Advisors Debt & Equity Finance Group has secured 23 separate loans — totaling $309 million — for the refinancing of a portfolio of real estate assets owned by The Seligman Group, a San Francisco-based family office.

The 23 refinanced assets comprise the majority of The Seligman Group’s California holdings, and total more than 1.9 million square feet and 800 apartments.

Mission Capital’s New York and Newport Beach offices worked jointly on the assignment, with a team comprised of managing director Jordan Ray, managing director Ari Hirt, director Gregg Applefield, associate director Steven Buchwald, associate Jamie Matheny and analyst Eugene Shevaldin.

“The Seligman Group was looking to refinance its wide range of California holdings. Our mandate was to field both fixed and floating rate options from a variety of types of capital providers,” said Ray.

“Despite the inherent challenge of working with nearly two dozen individual assets, we efficiently arranged for the long-term refinancing of the entire portfolio at unprecedented levels – interest only for the term. It was great execution and the results were gratifying. Our client was able to replace the existing loans and take advantage of favorable market conditions as they take out additional cash.”

The portfolio includes 12 commercial properties in Orange County and San Francisco.

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