"During this intense economic period, David B. Norton Inc. was able to secure equity financing for three of our Houston office properties. This additional equity financing provided our company additional liquidity for our overall real estate portfolio. Despite the unprecedented focus on distressed deals and the general upheaval in the marketplace, David B. Norton Inc. was able to secure and close attractive financing for our company with a very established investment group. We look forward to working with David's firm on other projects we are involved in."
Sean Cummins
CEO
CIMCO
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"David B. Norton Inc. has helped me with the financing of four of my properties which included securing construction loans on two residential development projects as well as permanent financing on two apartment properties. David's firm is, and continues to be, an integral part of Aslanian Development Corporation's growth. David's guidance and support has allowed me to develop the financing arm of my business to attract a new level of institutional lenders.
Even during the 2007/2008 credit crisis, David's firm was able to attract and close financings. Most importantly, David's firm provided great value to the due diligence and closing process, thereby saving my company's staff and me valuable time so we could continue to focus on our core business of developing and managing our real estate portfolio."
Arthur R. Aslanian
President
Aslanian Development Corporation
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"David Norton completed a refinance on my 117,678 SF mixed use commercial property, containing both office and retail space, with an appropriate product when other lenders could not.
I was working directly with other lenders who could not offer pricing and terms I could accept. Originally David arranged for a mezzanine tranche when I acquired the property 3 years ago. David kept in touch with me to offer assistance prior to loan maturities; his solution allowed for a major reduction in the current cost of debt, and provides for another step-down in rate as the property stabilizes.
David's dogged determination kept the transaction moving through a speedy conclusion. I would use David Norton again."
Michael Chesser, President
Apartment Income Investors, Inc.
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"David B. Norton's investment advisory/mortgage brokerage knowledge has been very instrumental to Crosswinds National LLC. David provided custom "one stop shop" services that allowed our company to achieve the most efficient level of funding needed for our real estate transactions. We were successful in obtaining $25MM in institutional capital to close a 20 acre vacant parcel of land including 2.3 acres of submerged land for the future development of a major downtown mixed use residential/commercial/marina project located in Jacksonville, Florida. We appreciate his professionalism and attention to detail. Our working relationship with David B. Norton, Inc. has proven to be quite successful."
Keith Kallen, Vice President & CFO and Amy L. Wess, Controller
Crosswinds National LLC
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"David Norton asks the right questions and narrows down the potential lenders very quickly. David takes a realistic and practical approach to solving your financing needs, no matter how complex or challenging. My company recently used David to obtain a $40MM loan for the acquisition and pre-development financing for the purchase of the Malibu County Club located in Malibu, California. The loan was based on future development value, not current net income. Our challenge was to obtain a firm financing commitment from an institutional lender in a very short period of time. David obtained the commitment on reasonable terms and the transaction closed on time. David stays personally involved every step of the way to insure that the task is completed on the agreed upon terms and timeline."
Thomas Hix, President
Hix Rubenstein Companies, Inc.
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"David Norton has been instrumental in the arrangement for funding debt and equity instruments with regard to several real estate transactions this past year. Specifically, Mr. Norton arranged for a substantial equity investment for an urban infill residential condominium project from a private investor with a thirty day funding after 24 hours notice. In addition he arranged for, in that same time frame, an acquisition and development loan for closing and predevelopment expenses.
Following the initial acquisition he arranged for the financing of two adjacent parcels with additional development loans and a third equity placement. In essence, through his efforts, the managing member was able to acquire $22 million of debt and equity financing in an extremely short period of time. Without his efforts the managing member could not have closed on the critical land parcels. His structured finance capabilities were outstanding, timely and highly professional.
In two other major transactions Mr. Norton has brought two institutional joint venture development partners to the respective projects, these Joint Venture Partners, who are providing both debt and equity to the deal, were provided on a timely basis and have allowed the Managing Member to negotiate from a strong financial position thanks to Mr. Norton's introduction, structuring and continuing follow through. In addition Mr. Norton has been invaluable with refinancing efforts on our current portfolio. We consider him an important part of our strategy for current and future transactions."
Chapin Hunt Jr., Partner
PacTen Partners
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"When you deal with David Norton, Inc, you deal with the David Norton, not another junior Partner. He knows how to dissect a deal for risk and profit, and he has top rated players for every deal. His track record speaks for itself. Its good to have him available to the Tishman team. Our deal for 21st Century Insurance in Woodland Hills was a home run for everybody-thank you, David!"
Alan Levy, CEO
Tishman International
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"Our track record with David Norton stretches back twenty years, and today, we still continue to work closely with his company. David has few peers in the industry that provide the tactile, day-to-day, assertive brand of professional services that we have come to expect and that he consistently delivers. I would unconditionally recommend the Real Estate Finance & Consulting Services of David B. Norton Inc."
Stephen Ben Terry, Chairman
Emerson International & International Development Group
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"David walked into a very challenging task - an institutional Owner selling to an operating partner with various property types and credits under an aggressive timeline . . . instilling the confidence the deal would be completed as pledged all along the way, he delivered seamlessly."
Doug McDonald, Principal
Bancroft Capital
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"David has an uncanny way of quickly understanding the deal and how to structure it. He's extremely bright and never drops the ball from start to finish. We've always valued our relationship with him and his singular ability to understand our transactions and find meaningful solutions in the capital markets."
Richard Nathan, CEO
Commercial Ventures Inc.
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"I have worked closely with David Norton for 22 years. David provided $300MM of acquisition and refinance closings on Class A highrise office buildings and regional malls for my commercial mortgage brokerage company, Morse & Associates. Most recently David's full service, "one stop shop" real estate finance company has played a key role in providing equity for Morse Health & Housing multi-family acquisitions. David's background, experience and reputations as a "closer" is highly recommended."
Jonathan Morse, President
Morse Health & Housing
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"David Norton came through for me when "lender performance" was crucial. Subsequently, David and I have worked on several loan transactions and I have been very pleased with his services. I am looking forward to working with him on my next deal."
Kam Hekmat, President
Indivest, Inc.
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"K Young, and their development partner, was in the process of completing an 80,000 square foot retail center at a prime Waikiki location. One of the development partners parent company's financial conditions was significantly impaired causing an immediate cessation of funding by the construction lender. David Norton was able to bring in his investment company's capital to replace the insolvent partner and continue construction disbursements. David was able to deliver the new funding within five days following the first introduction to the problem. An initial contribution of $50MM was increased by an additional $30 MM for the second phase of the property. This performance allowed this property to open on schedule. The property is now a landmark facility of Waikiki. The ability to swiftly attract and close financing pieces of this size is truly remarkable and an indicator of the talent David brings to his firm."
Warren Chew
CFO
K Young Group
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"David structured an imaginative financing arrangement for our 400,000 square foot project, which carried us through a difficult time in the office building market."
Ken Ruby, President
Ruby Construction
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