Super G Capital provided a $3.3 million second lien term loan to a company that manages a privately-owned portfolio of commercial and residential real estate worth $300 million.
The portfolio is owned by a successful retail entrepreneur who diversified his wealth into real estate. While the company was in the process of selling several large commercial real estate properties in California for liquidity, there was a working capital need to cover operating costs until the transactions closed.
Super G was comfortable with the transaction due to the appraised portfolio value, market feedback and equity in specific real estate properties. While there was no one specific property with equity to support a the loan, Super G found a pool of properties in a second lien position which traditional real estate and hard money lenders were not comfortable with.
The loan closed within one week with interest-only payments.
Super G Capital provides between $1 million and $5 million in structured debt solutions to lower middle market businesses across the country in need of financing for working capital, growth capital or acquisition capital. While the majority of its deals are cash-flow based, Super G will opportunistically provide special situation (balance sheet) loans requiring creativity, flexibility, and speed to close, as well as customized solutions for illiquid high net worth entrepreneurs.
