Versant Completes $18,000,000 Recapitalization of Midtown Atrium in Dallas, TX
January 12th, 2017 - Versant Commercial Brokerage, in affiliation with Virtua Partners, announced today that it has successfully recapitalized Midtown Atrium, a 113,359 square foot office complex located in the northern submarket of Dallas, Texas. The property became troubled when the current tenant, Republic Insurance, notified the owners they would not be renewing their lease when it expires in February 2017. Versant and Virtua recapitalized the property with an extension of the current senior loan, and the investment of $2,000,000 in preferred equity. The new capital is being used to fund tenant improvements, leasing commissions, and property upgrades. Click here to read the entire article.
Versant Completes Recapitalization of Addison Corporate Center
November 2nd, 2016 - Versant Commercial Brokerage, Inc. announced today that it has successfully recapitalized a 605,000 square foot office property, Addison Corporate Center. Located in the Hartford Connecticut suburb of Windsor, the building is occupied by Triumph Group, Belcan Engineering Group, GE Alstom and Sun Life Financial. Versant acquired and provided rescue capital, new equity, and senior financing in order to allow the owners to refinance the maturing loan, viewing it as a value add opportunity. Click here to read the entire article.
Versant Assisting with Recapitalization of Conn. Office Property
October 17th, 2016 - Commercial Real Estate Direct reports that Versant Commercial Brokerage is in the process of recapitalizing a 605,000 square foot office property, Addison Corporate Center. The property is located in the Hartford Connecticut suburb of Windsor. Versant, an authority regarding Special Situation CRE, is assisting the current owners by providing rescue capital, new equity and senior financing, allowing the owners to refinance the maturing loan. Recently the team signed on Triumph Group and extended existing tenant Belcan Engineering Group’s footprint in the building to bring the property’s occupancy from 75 to 90 percent. Other tenants include GE’s Alstom unit and Sun Life Financial. Click here to read the entire article.
Versant Completes Recapitalization of Plymouth Meeting Hampton Inn
January 19th, 2016 - Versant Commercial Brokerage, Inc. announced today that it has successfully recapitalized a 136 room Hampton Inn located in the Philadelphia PA suburb area of Plymouth Meeting. Versant assisted the tenant-in-common investors by originating new senior debt, syndicating new capital for the mezzanine financing, and utilizing Internal Revenue Code Section 721 to roll up the TIC structure into an LLC on a tax-deferred basis. Click here to read the entire article.
Versant Acquires Flex Office Buildings for $9,100,000 in Duluth, Georgia
January 4th, 2016 - Versant Commercial Brokerage, Inc. announced today that it has acquired two flex office buildings totaling 113,035 square feet located at 2425 and 2450 Commerce Avenue in Duluth, Georgia. The buildings are occupied by Metso Automation USA, Inc., Vensure Employer Services, Moreland Altobelli Associates, and Videojet Technologies. Versant sourced the senior and mezzanine debt, and was assisted the by asset manager, Clear Vista Management, and the property manager, Wiedmayer & Co. Click here to read the entire article.
Versant Completes $64,000,000 Recapitalization of Britannia Business Center I in Pleasanton, CA
December 21st, 2015 - Versant Commercial Brokerage, Inc. announced today that it has successfully recapitalized Britannia Business Center I in Pleasanton, California. Versant assisted the tenant-in-common investors by originating new debt financing, bringing in new equity to stabilize the property, purchasing the TIC interests of those who needed to exit the investment, and utilizing Internal Revenue Code 721 to roll up the TIC structure into an LLC on a tax deferred basis. Click here to read the entire article.
Versant Commercial Brokerage Completes Recapitalization of Philadelphia Airport Hampton Inn
July 1st, 2015 - Versant Commercial Brokerage, Inc. announced today that it has successfully recapitalized the Hampton Inn - Philadelphia Airport located at in Philadelphia, Pennsylvania. Versant was able to close the transaction in 180 days and increase distributions to the investors by 50%. Click here to read the entire article.
Virtua High Growth Fund Selects Versant Commercial Brokerage, Inc. as Investment Advisor
November 26th, 2014 - Versant Commercial Brokerage, Inc. is pleased to announce that it has been named exclusive investment advisor for the Virtua High Growth Fund (VHGF). VHGF is a real estate investment fund which acquires Tenant-in-Common (TIC) and other fractional interests in real estate investments across the country. In addition to providing liquidity to the fractional ownership marketplace, the fund also recapitalizes under-performing assets. Click here to read the entire article.
November 20th, 2014 - Versant Commercial Brokerage has successfully raised $2.2MM in mezzanine debt for the United Healthcare Office Building located at 2716 North Tenaya Way in Las Vegas, Nevada. Versant raised the capital within days of making the investment available. The 204,123 square foot building is triple net leased to United Healthcare. Click here to read the entire article.
November 6th, 2014 - Versant Commercial Brokerage, Inc. has successfully recapitalized an 111,000 SF flex office building located in the Dallas-Fort Worth metropolitan area. The building is 100% leased to the Lockheed Martin Corporation on triple net terms. Versant raised $3,600,000 of new equity to recapitalize the building, and the new investors are earning a 10% current dividend on their investment. Click here to read the entire article.
November 3rd, 2014 - Versant Commercial Brokerage has completed $257MM in debt and equity transactions through the third quarter of 2014. The transactions covered more than 1,200,000 SF of commercial real estate in Texas, Florida, Nevada, and Oklahoma. Notable transactions included the recapitalization of an 111,000 SF flex office building in Dallas, Texas, and a 204,000 SF Class A office building in Las Vegas, Nevada. Click here to read the entire article.
Versant Commercial Brokerage Adds Three New Hires to Growing Team
October 30th, 2014 - Versant Commercial Brokerage, a commercial real estate investment firm, continues to add new team members to its rapidly growing staff. The new hires will reinforce its Finance, Acquisitions, and Investor Relations department. Nick Montague will head the Finance Department while Derek Uldricks and Samantha Randant will bolster Acquisitions and Investor Relations, respectively. Click here to read the entire article.