Omaha, NE (PRWEB) October 03, 2012
Right now, Breakwater Equity Partners, a commercial loan modification firm, announced the resumption of dividend distributions to the owners of Embassy Plaza. The 22 tenant-in-common (TIC) investors had not received dividend distributions given that the fall of 2009. Embassy Plaza is a three-story, multi-tenant workplace constructing located in Omaha, Nebraska. Distributions have resumed following the completion of a debt restructuring spearheaded by Breakwater.

The 22 mom-and-pop owners bought the 131,000 square-foot home in 2007 for $ 17 million and anticipated to receive steady dividends to supplement their retirement. The investment was sold to the TICs as a secure source of retirement income. Unfortunately the house worth decreased, dividends were suspended, and the creating was threatened with foreclosure. The investors hired two various law firms and a mortgage broker to save the home from foreclosure, to no avail. The owners then hired Breakwater.

Breakwater delayed the foreclosure, invested new capital into the home, obtained a discounted payoff from the lender, brought in new financing, and signed the loan guarantees. This approach was completed in 102 days. These distributions are quite crucial to the investors, stated Robert Bartley, a steering committee member. Most of our investors are retired and count on their TIC investments to supplement their social safety payments. A foreclosure would have been devastating for all of us. Thanks to Breakwater we have been capable to save our investment.

When investors get into trouble it is really hard to know who to trust, said Phil Jemmett, Breakwater CEO. Thankfully, the Embassy Plaza investors had a sturdy steering committee to rally around. With out a united front and the appropriate technique, investors are at a enormous disadvantage when battling lenders. We have been to level the playing field and accomplish a favorable outcome for a vulnerable group of investors.

About Breakwater Equity Partners

Breakwater Equity Partners is a San Diego-primarily based commercial real estate workout consultancy and investment firm. By means of Breakwaters substantial knowledge on more than 200 engagements with loan values in excess of a $ two.5B, the firm has devised a exclusive, multidisciplinary approach to uncovering and resolving distressed assets. Breakwaters specialist team combines legal, monetary, financial, banking, tax, and regulatory expertise to devise customized strategies for each home regardless of marketplace (main to tertiary), asset class (office, retail, multi-loved ones, industrial, flex, land) or loan sort (portfolio or CMBS). For far more details on Breakwater Equity Partners, please get in touch with 858-490-3630 or pay a visit to http://www.breakwaterequity.com.





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