The information contained in this website reflects the opinion of Directed Capital Resources, LLC. This information is being furnished to you solely for your information and personal use and does not constitute an offer or recommendation to purchase or sell any investment or security. The opinions and recommendations herein do not take into account individual clients' circumstances, objectives or needs. You must make your own independent decisions regarding any securities, financial instruments, products or services mentioned herein. Before entering into a transaction, you should consider the suitability of the investment to your particular circumstances and independently review, with your professional advisors as necessary, the specific risks, i.e. financial, regulatory, tax, etc., linked to it. The information and analysis contained herein have been based on sources believed to be reliable. However, we do not guarantee their timeliness, accuracy or completeness, nor do we accept liability for any loss or damage resulting from your use of this website. Any opinions expressed reflect our current judgment at the date of this website and are subject to change without notice.
This website or the information contained herein is not directed to or intended for distribution to or use by any person or entity in any jurisdiction where such distribution, publication or use would be unlawful. This website and its contents may not be reproduced (in whole or in part), transmitted, modified or used for any public or commercial purpose without the prior written permission of Directed Capital Resources, LLC.
Directed Capital is an opportunistic real estate finance firm that strategically acquires, originates, manages and repositions commercial loans. The firm develops practical, effective loan workout solutions to help borrowers re-access traditional financing channels and provide investors with superior returns uncorrelated with the market. Directed Capital Advisors, LLC is a SEC Registered Investment Advisor (RIA).
Here’s how many millions investors pumped into the latest fund by a St. Pete firm
To view original article click here.
By: Margie Manning
November 14, 2016
Directed Capital Resources raised $77 million for its seventh and largest investment fund to date.
Directed Capital, a distressed assets workout specialist firm headquartered in St. Petersburg, also received a $40 million increase in its revolving credit facility from Goldman Sachs Bank USA.
The financial resources provided by investors and by the bank give Directed Capital more capital to deploy as it works with borrowers to turn around troubled commercial mortgage loans, which makes up about 70 percent of its business, said Chris Moench, CEO.
“We’re buying under-performing notes, as opposed to bank REO [real estate owned, or foreclosed] property,” Moench said. “We’re buying loans that still have a payment string to them, distressed but not down and out loans.”
The remaining 30 percent of Directed Capital’s business involves purchasing distressed property as well as opportunistic lending, such as bridge loans for deals that need to be closed quickly.
The just-closed fund, DCR Mortgage Partners VII LP, already has acquired more than $160 million in assets and quarterly distributions to investors began in April, a press release said.
DCR Mortgage Partners VII and the six earlier funds combined have raised more than $200 million in equity and acquired more than $1 billion in under- performing commercial real estate mortgage loans.
Directed Capital acquires, manages and repositions distressed commercial mortgage loans in the $1 million to $10 million range.
While the economy has been recovering, Directed Capital continues to see opportunities.
“It’s a big financial system and there’s always a subset of loans made that will have issues,” Moench said.
The company has been adding employees, and now has about 30 people on staff. It’s looking at adding additional space in Synovus Bank building in downtown St. Petersburg, where it has its headquarters. It also has an office in San Diego.