Confidas Capital Advisors
Confidas Capital Advisors was created in 2004 as a platform for alternative investments. Since inception, it has completed over US$ 2.6 billion of co-investments in direct transactions and funds.
Leveraging its long track record of advising investors in many different asset classes, the platform developed a specialization in co-investments in U.S. real estate equity and debt.
U.S. Real Estate middle market debt investment thesis
Highly fragmented market with unique opportunities due to regulation
Background
Post 2008 financial crisis: traditional banks moved away from middle-market commercial real estate lending due to regulatory constraints.
Private debt space sees tremendous growth.
Small and mid-size borrowers seek alternative financing solutions.
Growth of independent private lenders in a fragmented market.
C.R.E
Properties used specifically for business or income-generating purposes.
The main classes of commercial real estate include: multi-family rentals; for–sale residential (condos); industrial; office and healthcare facilities.
Commercial real estate provides rental income as well as the potential for capital appreciation.
Confidas Lenders
Well established middle-market private lenders.
Co-invest minimum of 10% of each loan originated (“skin in the game”). Loan portfolios above $300 million.
Seasoned management and underwriting teams. 20+ years’ experience in CRE loan structuring / navigated economic cycles.
Well positioned to identify risks and generate strong returns for investors.
Potential For Attractive Returns with Excellent Collateralization
Borrowers
High quality real estate developers/operators with strong balance sheets providing significant guarantees.
Key criteria for borrowers’ lender selection: speed, certainty of close, non-recourse.
Loans
Value add/acquisition transitional bridge loans based on conservative loan-to-value (LTV) and loan-to-cost (LTC) ratios provide substantial downside protection.
Income
Most loans are current pay with monthly or quarterly income.
Potential for favorable taxation treatment for non-US investors.
Target Market: U.S. Real Estate Middle Market
Assets which can benefit from bridge loans in order to maximize value prior to exiting into permanent facilities.
First mortgage and subordinated loans providing value add capital to transitional assets.
Commercial properties in major U.S. urban centers with high-quality sponsors.
Loan sizes: US$20 million to US$200 million.
Term: 12 – 36 months.
Confidas' unique added value is deep market knowledge and lender selection
…which combined with the strength of our relationships, allows us to source unique opportunities and develop attractive products for our investors
Confidas Process
Selection of Lenders
- Proven local knowledge & business acumen
- Distinguished track record including during stressed markets and in distressesd situations
- Co-investment capacity “skin in the game”
- Strong legal, market, investor references and crosschecks
- Internal loan servicing
Product Development
- Loan seniority
- Asset
- Geography
- Guarantees
- Duration
- Loan payoff-exit
Monitoring
Confidas follows each transaction closely
and develops a communication channel with investors to keep
them informed and ready
to make decisions if needed.
Exit
Although loans have short to medium term duration, investors may require an exit prior to maturity due to unforeseen circumstances.
Confidas actively assists in sourcing and closing secondary transactions.
U.S. Real State - Selected Transactions
Miami, FL
Development of Residential Condominium
Total Loan Size: $7.0M
Confidas investment: $7.0M
Loan To Cost (“LTC”): 42%
Term: 18 months with extension options
[mes_ano_propriedade]
Brooklyn, N.Y.
Construction Completion Loan
Senior Loan
Total Loan Size: $27.0M
Confidas co-investment: $2.2M
Loan To Value (“LTV”): 67%
Term: 12 months
[mes_ano_propriedade]
Boston, MA
Construction Loan
Mezzanine
Total Loan Size: $15,0M
Confidas co-investment: $2.0M
Loan To Value (“LTV”): 54%
Term: 30 months with extension options
[mes_ano_propriedade]
Los Angeles, CA
Refinancing and Completion of a Multifamily Development
Total Loan Size: $25.3M
Confidas co-investment: $1.5M
Loan To Value (“LTV”): 69%
Term: 15 months with extension option
[mes_ano_propriedade]
Midtown Manhattan, N.Y.
Condo Inventory Refinancing
Total Loan Size: $45.0M
Confidas co-investment: $6.4M
Loan To Value (“LTV”): 59%
Term: 20 months
[mes_ano_propriedade]
Stone Mountain, GA
Multifamily
Bridge-to-HUD Refinancing
Total Loan Size: $32.0M
Confidas co-investment: $2.6M
Loan To Value (“LTV”): 71%
Term: 18 months
[mes_ano_propriedade]
Delray Beach, FL
Hotel Construction Refinancing
First Mortgage Loan
Total Loan Size: $85.8M
Confidas co-investment: $3.0M
Loan To Value (“LTV”): 67%
Term: 23 months with extension options
[mes_ano_propriedade]
Conover Street Brooklyn, N.Y.
Residential Condominium
Senior B Note Construction Loan
Total Loan Size: $19.3M
Confidas co-investment: $3.0M
Loan To Value (“LTV”): 66%
Term: 17 months with extension options
[mes_ano_propriedade]
Centre Avenue Pittsburgh, PA
Mixed-Use Multifamily and Retail
Construction and Stabilization
First Mortgage Loan
Total Loan Size: $33.3M
Confidas co-investment: $3.0M
Loan To Value (“LTV”): 63.7%
Term: 16 months with extension options
[mes_ano_propriedade]
Brooklyn, N.Y.
Multifamily Rental Development
Co-Investment with Project Developer
Total Equity: $25.1M
Confidas co-investment: $18.2M
Construction completed: 1Q. 2023
[mes_ano_propriedade]
Biscayne Blvd Miami, FL
Condo Inventory
Senior B Note + Mezzanine Loan
Total Loan Size: $36.0M
Confidas co-investment: $3.5M
Loan To Value (“LTV”): 60%
Term: 12 months with extension options
[mes_ano_propriedade]
Shore Road, Gleenwood Landing, N.Y.
Residential Condominiums
Construction and Sell-Out
First Mortgage Loan
Total Loan Size: $59.6M
Confidas co-investment: $3.0M
Loan To Value (“LTV”): 66.7%
Term: 11 months with extension option
[mes_ano_propriedade]
Second Avenue New York, N.Y.
Mixed-use for Sale
Ground-up Development
Senior B Note Loan
Total Loan Size: $10.0M
Confidas co-investment: $6.0M
Loan To Value (“LTV”): 66.5%
Term: 36 months with extension option
[mes_ano_propriedade]
Franklin Street New York, N.Y.
Tribeca Condominium Ground-up Development
Mezzanine Loan
Total Loan Size: $13.5M
Confidas co-investment: $12.5M
Loan To Value (“LTV”): 66%
Term: 36 months with extension option
[mes_ano_propriedade]
28th Street New York, N.Y.
Mixed-Use Residential Condominium Construction and Sell-Out Financing First Mortgage Loan
Total Loan Size: $22.5M
Confidas co-investment: $5.0M
Loan To Value (“LTV”): 68.4%
Term: 24 months with extension option
[mes_ano_propriedade]
Fifth Avenue New York, N.Y
Mid-Construction Hotel
Senior B Note Loan
Total Loan Size: $25.0M
Confidas co-investment: $2.0M
Loan To Value (“LTV”): 54%
Term: 24 months with extension option
[mes_ano_propriedade]
Silicon Valley San Jose, CA
Partially Built Residential Condo
Complete Construction and Sell-Out
First Mortgage Loan
Total Loan Size: $41.9M
Confidas co-investment: $4.0M
Loan To Value (“LTV”): 60.8%
Term: 24 months with extension option
[mes_ano_propriedade]
Silicon Valley Fremont, CA
Partially Built Residential Condo
Complete Construction and Sell-Out
First Mortgage Loan
Total Loan Size: $45.0M
Confidas co-investment: $6.5M
Loan To Value (“LTV”): 61%
Term: 18 months with extension option
[mes_ano_propriedade]
West End Avenue New York, N.Y.
Multifamily (rental)
condo conversion
Mezzanine Loan
Total Loan Size: $55.0M
Confidas co-investment: $4.5M
Loan To Value (“LTV”): 65%
Term: 36 months with extension option
[mes_ano_propriedade]
Calvert Rd. Harrison, N.Y.
Luxury Multifamily Rental
Construction and Stabilization
First Mortgage Loan
Total Loan Size: $20.0M
Confidas co-investment: $5.0M
Loan To Value (“LTV”): 60.6%
Term: 30 months with extension option
[mes_ano_propriedade]
Livingston St. Brooklyn, N.Y.
Hotel Construction and Stabilization First Mortgage Loan
Total Loan Size: $29.0M
Confidas co-investment: $5.5M
Loan To Value (“LTV”): 54.7%
Term: 24 months with extension option
[mes_ano_propriedade]
Senior Housing Portfolio Northeast & Midwest U.S.
11 Properties in Development, Construction and Lease-up
Collateralized Bridge Loan
Total Loan Size: $8.0M
Confidas co-investment: $8.0M
Term: 24 months with extension option
[mes_ano_propriedade]
Malibu, CA
Mixed-use development
Repayment of Existing Debt & Funding of Predevelopment Costs
First Mortgage Loan
Total Loan Size: $38.3M
Confidas co-investment: $2.0M
Loan To Value (“LTV”): 60%
Term: 33 months
[mes_ano_propriedade]
West 81st Street New York, N.Y.
Condo Ground-up Development
Senior B Note Loan
Total Loan Size: $7.0MCo
nfidas co-investment: $2.8M
Loan To Value (“LTV”): 59%
Term: 30 months with extension option
[mes_ano_propriedade]
West Village New York, N.Y.
Townhouse and Condo Development Mezzanine Loan
Total Loan Size: $15.5M
Confidas co-investment: $11.3M
Loan To Value (“LTV”): 61%
Term: 24 months with extension option
