WRC’s investment banking expertise enables us to structure and successfully execute creative financing strategies for our clients and partners in today’s challenging markets. We apply extensive knowledge and current market insight in arranging senior and subordinate debt and third-party investor and tax credit equity financing.
Many of our current joint ventures have been made financially viable through complex transactional structures involving Federal / State Historic Tax Credits and New Markets Tax Credits (NMTC). Additionally, several transactions also include EB5 and third-party equity investors, strategic and proprietary, to WRC developments.
Our clients and partners benefit from our extensive network of contacts representing a proprietary database of hundreds of lending and equity sources. Our established relationships allow us to know ‘where’ the markets are and what sources would be best to prioritize for any one financing strategy. Markets are constantly changing, evolving. Getting to market efficiently and aggressively is critical. WRC is able to significantly increase the returns to its projects through the application of these financial engineering techniques. These techniques, working in concert with seasoned execution, make feasible projects which might otherwise not get built.
Michael Zukermanis a Managing Director and founder of Whitestone Realty Capital LLC. Mr. Zukerman has been a practicing attorney specializing in real estate and securities since 1967; he was Managing Partner of the New York office of Baskin & Sears from 1979-1985; and is presently “of counsel” to Warshaw Burstein Cohen Schlesinger and Kuh LLP specializing in real estate finance, structured finance and real estate development. He is an adjunct professor at NYU Schack Real Estate Institute teaching a graduate course called “The Development Process”. Mr. Zukerman has conducted seminars at the Crittenden National Conference for ten years entitled “Mezzanine versus Equity”. The last two years the seminar was changed to “How to Survive as a Developer in the Present Economic Environment. He has taught seminars on mezzanine financing to graduate students at the Newman Real Estate Institute at the Bernard Baruch School of Business of the City University of New York. Some more noteworthy transactions Mr. Zukerman has been involved in include arranging the first $140,000,000 securitized mortgage-backed financing ever completed without credit enhancement in 1991 together with a “follow on” transaction for the same company of similar size in 1993; closing the first $127,000,000 conduit financing ever completed in 1992; acting as financial advisor to a REIT in 1993 ($90 million of equity); coordinating the merger of a shopping center owner operator into a mortgage REIT and creating a large equity REIT that had a capitalization of over $700,000,000 when it was sold; and arranging $200,000,000 financing for an acquirer of environmentally distressed assets in 1997.