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Since 2008 The Davis Companies has purchased $160 million in loans and securities from major financial institutions and expects to continue to explore adding opportunistic investments to the portfolio.

Davis Companies Portfolio Image
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PRIMECENTER AT BRIARGATE
COLORADO SPRINGS, COLORADO

Property Type: Office/Flex
Senior Performing Debt
Location: Colorado Springs, CO
Size: 283,000 sq ft

TDC Value Creation:

  • Purchased senior performing loan from MetLife with 5-year remaining term at 37 discount
  • Loan is in technical default and 26% property vacancy could lead to non-Performing status - TDC foreclosure with conversion to fee ownership
  • If foreclosed, TDC has entered into a joint venture with a local operator with a significant co-investment who will oversee management/leasing
  • TDC basis represents 46% of appraised value or 38% of borrower's basis
  • Obtained 65% financing on acquisition to leverage equity position