Recent Commercial Modification Success Stories

Thrift Store Gets A 2 Year Extension

In February of this year a retail store owner in Glendale, AZ approached us and asked if we would be able to help save their store.  The store provides jobs for battered woman and the profits go to support battered woman's shelters.  They were just 2 weeks from the sale date when they engaged Commercial Equity Solutions, LLC to help.

They had become delinquent on their taxes and could not keep up on the payments.  Previously, the property owner had attempted to negotiate an extension and got nowhere until they retained Commercial Equity Solutions, LLC.

By demonstrating to the lender that the stores income had stabilized over the last few quarters, the lender agreed to a 2 year extension with interest only payments.

110,000 Square Foot Retail Center Gets Principal Reduction.

This multi-tenant retail property in Minnesota has had a high turnover rate because of constant retail lease renegotiation.  The property owners were unable to keep current on the taxes and soon became delinquent on the debt service.

The lender (a CMBS Trust) turned the account over to a special servicer and began foreclosure proceedings on the $9.4 million note.  Commercial Equity Solutions, LLC was successful in negotiations with the servicer and they agreed to a pay off of $5.5 million.

With the loan basis on the property reset to its market value, this shopping center will once again cash flow sufficiently to service the new debt.