Recapitalization of a Neighborhood Shopping Mall
An existing client of MacKenzie Capital, LLC, owners of a local real estate project were nearing the expiration of the term of their original financing which had been paid down significantly.Recognizing a shift in the current economy and real estate marketplace, ownership reached out to MacKenzie with assistance in providing long-term financing for capital improvements to the property.
Approach and Results
Recognizing that the asset was ideally positioned for restructuring and redevelopment that would require significant time, attention, and new capital in order to meet the center’s requirements, MacKenzie first identified a local sponsor for the out-of-town owner. Further consultation surrounding the potential sale of the project led to assistance with the formation of a joint venture partnership and formation of a new ownership entity resulting in the successful sale of the project which is currently under redevelopment.
- Joint Venture Partnership Formation
- Redevelopment Financing