Result Driven ProcessDavid B. Norton Inc.’s employs a process which is especially unique and creates a deal process which is highly efficient and yields high closure rates. The firm becomes the "architect" of each transaction, carefully evaluating and planning each step so that all sides of the transaction are focused on common objectives. Process Steps: Initial Evaluation: Even prior to formal engagement of the firm a new project is quickly evaluated to determine its strengths, weaknesses, and viability in the continually changing capital markets. This involves creating a preliminary financing strategy with appropriate lender/investor hurdle rates, debt & equity ratios, sponsorship analysis, etc. Preliminary Feedback: The firm will approach select potential lending sources to solicit quick and thoughtful feedback regarding the current lending benchmarks, as well as identifying the best course of action for the project. The firm’s established lender relationships allow the feedback to be exceptionally candid and thorough. In this process, confidentiality is maintained so as to not "shop" the property before a final financing plan is in place. Maintaining this level of confidentiality is important as shopped deals are often met with lender suspicion. Formalize and Underwrite the Financing Strategy: Based on the initial evaluation and lender feedback, the most appropriate financial strategy is undertaken and the firm's underwriting commences. The firm undergoes a comprehensive due diligence and underwriting process. The firm is able to rapidly distill all property information into a concise investment package. The investment package clearly articulates the strengths and weaknesses of the project and the overall financing strategy. The investment package is designed in a format which emphasizes the key metrics which lenders and investors use to evaluate deal submissions. We are continually applauded for the format and succinct focus of our deal submissions. Financing Placement: Using the firm’s established network, the investment package is directed to the decision makers within the lender groups. Only those groups which are known to have an appetite for the specific transaction are approached. By targeting only the decision makers at the appropriate institutions, the investment package gets the proper attention, rapid response, and isn't shopped with a lack of focus. Due Diligence and Closing: Once a lender is selected, David B. Norton Inc. leads the due diligence and closing process. By managing the complete flow of information, the firm makes certain that the closing process is managed efficiently and timely. Quite often the firm coordinates directly with owner and lender counsel as well as escrow officers to ensure all deal points are met. This close involvement with all parties of the closing process ensures a swift and well organized closing. __________________________________________________________________________
Contact: David Norton - (615) 432-2064 / (310) 689-7375, [email protected] Lew Gildred - (310) 689-7377, [email protected] _________________________________________________________________________________ |
Recent ClosingsClosed a $18,750,000 Construction Loan and Equity Investment (76.0% LTC) for the Construction of a 125-Unit Multifamily Development
___ Closed a $56,031,000 Construction Loan and Equity Investment (98.2% LTC) for the Construction of a 350-Unit Multifamily Development ___ Closed a $15,500,000 Preferred Equity Investment for the Acquisition of a 722-Unit, $140,800,000 Multifamily Portfolio ___ Closed a $48,500,000 (98.5% LTC) Construction Loan and Joint Venture Equity Investment for a 342-Unit Multifamily Development ___ Closed a $34,140,000 (86% LTC) Construction Loan and Preferred Equity Investment for a 306-Unit Multifamily Development ___ Closed a $39,260,000 (98.5% LTC) Construction Loan and Joint Venture Equity Investment for a 314-Unit Multifamily Development ___ Closed a $13,860,000 Construction Loan for the Development of 109 Townhome Units ___ Closed a $1,040,000 Senior Loan for a 0.12 Acre Parking Lot Property ___ Closed a $60,000,000 Construction Loan for the Development of a 200,000 SF Retail Center |
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