Creative Financing

Churchill Capital CEO Jim Neil appreciates the challenge of doing things that take a little more effort. Talking with us yesterday about his role as moderator at the Bisnow Capital Markets Breakfast this Thursday (you can still register, hint hint), he says Churchill takes a creative approach to helping clients raise both debt and equity capital. YTD, the firm has closed more than $60M in acquisition financing on deals that range from  0%- 75% occupied. “They run the gambit of the value-add proposition,” he says, adding that the half-dozen or so deals Churchill has closed this year (valued at $240M) also included raising about $10M-$15M more in equity to complement the transactions.
Almost two-thirds of the deals have been in Dallas or Houston, he adds, noting that while the Texas economy has been down, it should turn around quicker than the rest of the country. He says the securitized world is coming back. On Thursday, he intends to ask the experts how deep that market is now and how fast  it is going to grow: “I'll ask them if they think the market will look dramatically different than it did three or four years ago." Plus, Jim says there were quite a few people that provided bridge and mezzanine value-added capital to the equation, and that segment is currently underserved. When will it return? Find out tomorrow.

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