ARG Capital Partners secures joint venture equity totaling $16M

NEWS | SAN DIEGO


By Daily Transcript staff report
Monday, January 31, 2011


The San Diego office of ARG Capital Partners announced that it has arranged joint venture equity totaling $16 million for its client Feldman Equities Inc.

ARG assisted Feldman Equities in securing an all equity closing on the acquisition of a distressed mortgage note secured by a Class A, 134,065-square-foot multi-story office building in Tampa, Fla.

Given the time sensitive nature of the transaction and the closing deadline imposed by the note seller, an all equity closing was required.

Bryan Clark, director of Capital Markets with ARG Capital Partners, arranged joint venture equity on behalf of the sponsor, Feldman Equities, securing a letter of intent for $16 million in joint venture equity, with terms acceptable to the note seller, sponsor, and joint venture partner, for an all cash closing within five days of notification that the previous partner had backed out-with the closing of the acquisition taking place 15 days later.

ARG Capital Partners arranged the joint venture equity through a market-leading real estate private equity firm whose principals each have more than 20 years of experience, including leadership positions at premier investment funds and operating companies, and collectively have been responsible for over $10 billion of real estate investments.


Source: SanDiegoDailyTranscript