Excerpt from Commercial Observer: Lancewood Capital supplied the condo inventory loan for the newly developed condo building at 1295 Madison Avenue, which formerly housed Hotel Wales before it closed in 2020. The deal gives the developer additional time to market the units and lowers debt service costs, according to Matt Schatzle, vice president at Lancewood Capital, who led the transaction along with Justin Godner. “This is a beautiful and well-built property that the market has absorbed well, as represented by the sponsor’s successful recent sales,” Schatzle said. “We were able to provide near-bank capital quickly and efficiently.”
Lancewood Capital, through an affiliated entity, is proud to have provided $11MM of senior note financing to the original NY-based real estate lender who provided a $16MM first lien loan to finance the acquisition of the subject property. Our family office was very happy to have played a small part in this successful acquisition and repositioning for the sponsors. We continue to provide senior note financing and/or credit facilities to alternative CRE lenders who are active in the $1-$50MM space.
Excerpt from REW: Vice President of Real Estate Justin Godner said, “The disruption in both the credit and equity markets and more specifically in the banking sector in the latter part of 2022 into 2023, has allowed our family office to execute for borrowers at a time when many could not. This execution and earned trust allowed for us to develop many new lender finance relationships that we will have for a long time.”
Lancewood is proud to have provided $8MM of competitive short-term financing to our borrower, the seller, which allowed for them to properly market and sell the property at a favorable price. Our family office continues to provide direct bridge loans at near-bank pricing to property owners, and we also provide senior note financing to many alternative real estate lenders and note buyers who are active in the $1-$50MM space.
Excerpt from NYREJ: Unlike many of its competitors, Lancewood Capital is fully capitalized by the family office. The firm’s patient and stable capital source provides increased flexibility, competitive pricing, and unparalleled execution for its borrowers. The firm is exclusively focused on senior first lien loan opportunities within larger markets in New York, Florida, and California. Lancewood provides direct bridge loans to property owners as well as senior note financing to many alternative real estate lenders through the firm’s lender finance platform.
Excerpt from NYREJ: What led you to your current profession? I was initially drawn to real estate after learning about how my grandfather started his real estate business. After seeing firsthand how my father along with our partners started Lancewood Capital, I got more interested. It felt like a natural path for me to follow and I couldn’t be happier that I did. Being able to meet new and interesting people every day makes this business fun and rewarding.
Excerpt from NYREJ: “ What recent project, transaction or accomplishment are you most proud of?
I am most proud of helping grow Lancewood Capital into the platform that it has become today. Our company started in 2014 as a local New York focused real estate lender and has since become a household name with a national presence in the $1-50 million credit space. We have managed to grow the business year-over-year in an increasingly competitive lending environment while staying true to our focus and underwriting guidelines.
Top three things on your bucket list:
To surf in Hawaii; play golf at Pebble Beach; and to attend Roland Garros (French Open)
Excerpt from NYREJ: What recent project, transaction or accomplishment are you most proud of? I am proud of the Lancewood team who have worked very hard to make Lancewood the platform it is today. We have created a niche near-bank platform that has been able to provide credit to many real estate owners and lenders.
Favorite quote:
“By failing to prepare, you are preparing to fail.” –Benjamin Franklin
Excerpt from NYREJ: "The Lancewood team is excited about this relationship as it allows the firm to deploy capital in Florida markets though a local lender who has been investing in this region for a long time," said Lancewood Capital vice president Justin Godner. Justin Godner, who structured this credit facility and co-developed the lender finance platform, noted that the lender finance platform was created to provide alternative real estate lenders with competitive senior financing without all the red tape associated with procuring leverage from a bank. […]
Excerpt from Mann Report: “It was a pleasure to work with this counterparty and I am glad we could provide them with an easy closing process and competitively priced short-term financing,” added Schatzle who structured the loan investment for Lancewood Capital. […]
Excerpt from NYREJ: "The Lancewood team is excited about this relationship as it allows the firm to deploy capital in Los Angeles and surrounding West Coast markets though a local lender who has been investing in this region for a long time," said Lancewood's vice president of Real Estate Justin Godner. "It has been a goal of the family office to establish more market diversification in 2022 and the team is excited about the closing and the establishment of the relationship."[…]
Excerpt from Mann Report: Lancewood Capital was able to provide the sponsor with interest-only financing at a near-bank rate while also providing capital toward the remaining construction costs. The project is now complete and the property is currently on the market. “It was a pleasure to work with this developer and we are glad that we were able to provide them with the necessary pricing, flexibility and execution to successfully complete their project.” said Lancewood Capital’s Matt Schatzle […]
Excerpt from NJREJ: Lancewood Capital, a New York-based family office focused on commercial real estate debt investment opportunities in the $1-50 million space, announced the following recent transactions structured by Matt Schatzle: […]
Excerpt from NYREJ: We learned once again that a challenging environment increases the demand for flexible, competitive and reliable real estate capital. There was a period of time where many of the conventional capital sources were having a difficult time transacting. Our family office was able to execute for our borrowers when many could not, which allowed for us to develop many new relationships that we will have for a long time. […]
Excerpt from REW: While Lancewood continues its growth in the New York metro area – with over $100 million of capital deployed in the area in 2020 – the company also seeks to expand in other primary markets, particularly Atlanta, Florida, California and Texas. The company has been increasingly active in Florida and California, where Matt Schatzle and Stephen Zaro have originated bridge loans and Justin Godner set up two $50 million senior credit facilities with $19.2 million funded to date for FL and CA based real estate lenders. […]
Excerpt from REW: The Lancewood team feels fortunate to provide financing solutions for borrowers in today’s challenging market: $10,500,000 bridge loan to finance the completion of a mixed-use property in the Astoria neighborhood of Queens, NY. This transaction was structured by Justin Godner. $3,200,000 bridge loan to refinance a single condo unit in the downtown neighborhood of Manhattan. This transaction was structured by Matt Schatzle. […]
Excerpt from Business Insider: The Lancewood Capital announced today that it provided a $5,200,000 bridge loan to finance the acquisition and renovation of 317 East 5th St, a mixed-use property located in the East Village of Manhattan. The 8,100 sf mixed-use property is currently demised as a blend of multifamily units above ground floor commercial units. The property also features a 2,000 sf rear courtyard. The buyer, Penn South Capital plans to immediately renovate the vacant units. The apartments will feature high-end finishes and will cater to NYU students and faculty. […]
