For important risk and disclaimer information, Click here.

Industry

Real Estate

Company Type

Real Estate Fund Manager

Size

$40 Million

Investment Type

Debt

Overview

1600291755170

InCommercial Capital Corporation (ICC or the Sponsor) is seeking to leverage approximately $40 million of partner capital with a $40 million credit facility to acquire properties while ICC raises capital from HNW investors.

ICC manages several funds of high-quality NNN lease, single-tenant retail properties.


Proposed facility along with partner capital will provide financing to ICC’s funds, which will issue bridge notes to secure the facility


Security will include the capital raised as well as all of the sponsor’s income streams, including management fees, acquisition fees and carried interest


Predominantly single tenant necessity-based retailers and/or strong credit businesses such as automotive supply, dollar stores, discount retailers, medical clinics, gas stations and similar properties

Opportunity

logo-removebg-preview

ICC is launching two new funds – InCommercial Motor Fuel II LP and InCommercial BTS (“Build-to-Suit”) I LP

  • InCommercial Motor Fuel II – seeking $100 million in equity to acquire and manage a portfolio of independent retail motor fuel outlets via sale-leaseback transactions
  • InCommercial BTS (“Build-to-Suit”) I LP – seeking $50 million to acquire, develop, lease and sell “build -to-suit” properties, predominantly retail, quick service restaurants and specialty medical use facilities

ICC believes bridge financing is the most favorable option to accumulate assets and commence developments while investor capital raising is in process, which they believe may in turn facilitate fundraising

Solution / Strategy

logo-removebg-preview

Sponsor currently manages a fund that provides bridge financing through ICC to its other funds, enabling them to acquire attractive properties while they are raising capital


The funds issue notes to the Sponsor and can be repaid from 1) capital raised; 2) fund cash flow; and 3) sale of fund assets, which ICC is entitled to do in its sole discretion


The proposed facility is intended to facilitate the launch of the two new funds – InCommercial Motor Fuel II LP and InCommercial BTS I LP, but also be available to provide bridge financing to the Sponsor’s other funds


The facility is expected to be secured by all of the notes to the individual funds – the facility will not be secured by or be senior to any mortgage loans to the underlying property assets – typically leveraged at 50-65% LTC

Management

1600291755170

Erik Conrad, Chief Executive Officer

Founder and CEO of InCommercial and has led real estate companies for over 20 years. Over 22 years of licensed real estate brokerage experience as well as involvement in over 2,000 net-leased real estate transactions. Former board member of the Chicago chapter of the Entrepreneur’s Organization. Has owned and operated multiple real estate asset classes such as retail, multi-family, hospitality and office space and continues to hold a financial interest in every active partnership overseen by InCommercial. BA, Biology and Psychology, Northwestern University.

Tiffany Fraley, Chief Operations Officer

Chief Operations Officer of InCommercial and brings over 20 years of real estate industry experience. In addition to property management background, a licensed real estate managing broker. MBA, Belmont University. BBA, Austin Peay State University.

James Shaw, President

Brings over 40 years of experience involving the acquisition, financing, management, disposition, and brokerage of investment real estate properties with aggregate value of more than $4.5 billion. Has garnered substantial experience and expertise regarding office buildings, retail properties, multifamily properties, warehouse- distribution facilities, hospitality properties, large-scale student housing properties, country clubs and marinas. Focuses on designing and implementing capital market strategy. Recipient of the 2007 ACE Award from TICA (now ADISA) for excellence in professional performance and ethics.

Learn More About InCommercial
Thank you for your interest in InCommercial.Please fill out your information and we will contact you shortly with more information on this opportunity.

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

Sending