$10 Million Preferred Equity Recap

November 23, 2023

FIDES Capital Partners, LLC ("FIDES") has been engaged as the financial advisor to the developer of a multifamily development in a strong Sunbelt market. “Our client was seeking partial liquidity on a recently completed multifamily development that was still in lease-up,” said Gregg Feldkamp of FIDES. “Given the need for capital in other under-construction projects, our client asked us to procure capital to recapitalize a portion of their interest. This was complicated by the fact our client wasn’t the sole equity source in the project and their partner was not interested in leveraging their position ratably. Our experience with complicated capital solutions distinguishes us from other capital advisory firms or mortgage banking firms. We know how to address these complex situations, as we’ve served in capacities as both lender and borrower. We are thoughtful in our approach and diligent with our execution and our client is confident that we’ll deliver when it counts.”

$160 Million Loan Restructuring

July 3, 2023

FIDES Capital Partners, LLC ("FIDES") has been engaged as the financial advisor to a multifamily owner regarding a defaulted mortgage secured by a portfolio of multifamily properties. “We did a lot of lender negotiations and restructurings during the GFC, and we understand how both creditors and debtors view these situations,” said Greg Longoria of FIDES. “So we modeled the opportunity from the lender’s perspective to understand their options, as well as their opportunity cost if they were to sell the note and redeploy the capital into a new loan. We then provided several options to the lender based on how our client could create value with a refreshed capital structure, that included a restructured loan. Everyone now has transparency into the decision making process.”

$30 Million Bridge Loan Multifamily Construction

June 23, 2023

FIDES Capital Partners, LLC ("FIDES") has been engaged as the financial advisor to the developer of a multifamily development in a strong Sunbelt market. “Our sponsor client commenced construction of a large development prior to securing all the capital necessary to fund the project,” said Gregg Feldkamp of FIDES. “As the developer’s liquidity diminished, they contacted FIDES to discretely procure bridge capital so that the construction would remain uninterrupted while the capital stack was finalized. This was a difficult assignment, yet FIDES procured a $30MM+ term sheet that provided the sponsor with ample time to optimize the capital structure. This engagement is emblematic of the solutions and creativity that we bring to our clients.”

$800 Million - Largest MF Default in Country

April 3, 2023

FIDES Capital Partners, LLC (“FIDES”) secured $240 million of equity to acquire alongside its client, the first mortgage loans secured by a 75-building portfolio of 2,149 rent-controlled apartments in some of the most iconic neighborhoods in San Francisco, CA. “This is a tremendous opportunity to utilize our client’s proprietary knowledge of the properties, market, and operations to enhance and create value,” said Greg Longoria of FIDES. “With a note balance of close to $800 million, I believe this is the largest multifamily default in the country, and we’re excited to be in the middle of this high-profile transaction. No multifamily operator is better qualified than our client to acquire these notes and drive the going-forward value of this fabulous portfolio.”

$50 Million OpCo Recap: Industrial Developer

March 1, 2023

FIDES Capital Partners, LLC ("FIDES") secured multiple term sheets from sophisticated institutional investors to recapitalize the balance sheet of an industrial development and ownership entity of a global, vertically integrated real estate investment management company with $16 billion of assets across the United States and Europe. “This is a phenomenal opportunity for a capital partner, as this type of transaction wouldn’t have been available prior to the dislocation of last year,” said Greg Longoria of FIDES. “Our client has a $1.5 billion pipeline of Class A industrial development projects across some of the hottest markets in the United States. They have sophisticated institutional investors as limited partners, and a proven track record of generating high risk-adjusted returns.”

$10 Million Land A&D Financing

February 23, 2023

FIDES Capital Partners, LLC ("FIDES") has been engaged as the financial advisor to the developer of several master planned communities (“MPCs”) in the greater Rochester, MN area. “Our sponsor client has identified a very compelling supply-demand imbalance in the Rochester area housing market,” said Gregg Feldkamp of FIDES. “The world renown Mayo Clinic has announced massive expansion plans putting further pressure on a very tight housing market. Over the past couple of years, our client has secured several large parcels with plans to develop and deliver critically needed housing supply across the price spectrum. While the larger financing market has its share of challenges, we’ve received a warm response to this mandate as the business plan is rooted in solid underwriting fundamentals.”

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