Breakwater Equity Partners, a consulting firm specializing in commercial loan workouts, today announced the firm has surpassed $1 billion in total loan workout volume. The 21-person firm, located in San Diego, CA, has been doubling every ninety days to accommodate the growing demand for commercial loan modifications.
Breakwater Equity attributes its fast growth and success to the hands-on experience of its team, with over 180 workout assignments completed or in progress. Breakwater utilizes a diverse team of specialized experts in the fields of finance, bankruptcy, banking, real estate law, litigation management and negotiation. “It’s a bittersweet success story,” said Phil Jemmett, CEO of Breakwater Equity Partners. “While we are not excited about the state of the economy and the downturn in the real estate market, we are enthusiastic about the opportunity to help property owners and investors save their troubled properties and resolve their personal guarantees. All of our clients are dealing with a high level of financial and emotional pain, as the real estate collapse has destroyed years of hard work and created an uncertain future.”
Breakwater has performed a wide variety of commercial loan workouts on the way to $1 billion, from single asset workouts on $1 Million loans, to multi-asset real estate portfolios exceeding $100 Million (minimum loan size is now $5 Million). The company has worked on just about every real estate asset class in a wide variety of locations across the U.S. including office buildings, industrial, retail, from strip centers to large shopping malls, multi-family residential, mixed use, master-planned communities, broken construction projects, residential and land development, golf courses, farming operations and manufacturing facilities.