Structured Finance

Altum Partner maintains relationships with about 1,000 private and institutional capital providers, suitable for a broad variety of transactions and relationships. Altum Partner sources debt from local, regional, national and international individuals and institutions based on the structure of the loan request, region of the country and product type of the collateral. While the majority of our relationships are “institutional†and prefer larger transactions, we also maintain dialogs with smaller national and local providers of capital to customize transactions for the best possible execution.
Our value proposition extends deep into negotiations and loan structuring. In this arena, our structured finance real estate services include modeling cash flow; both actual and proforma, while assisting our clients in determining the most advantageous cash flow structure for the evolution of their commercial investment. With billions of dollars in various financing facilities placed over the 40+ year history of our firm for cash flowing and future cash flowing assets, our staff has the expertise to deftly structure and negotiate every type of commercial asset; from operating marinas and hotels to the apartment complex in your neighborhood.

Equity

Altum Partner maintains relationships with hundreds of equity investors, suitable for a broad variety of transactions and relationships. We typically source transactional equity for specific real estate projects, while we also raise capital for discretionary funds.

Most of our sources are “institutional†and prefer large, passive investments. These investors limit their project involvement to asset management and oversight. However, we also maintain contact with small, opportunistic investors who will consider smaller deals with active participation. These investors usually have development and management expertise in addition to capital and therefore seek to maximize their returns by deploying both capabilities. There have also been occasions when Altum Partner “syndicated†equity for a project among a handful of high net worth investors.

Our value proposition extends deep into negotiating and structuring suitable transactions. In this arena, our services include modeling equity investments and determining investor IRRs based on various waterfall scenarios. With years of practice and billions of dollars placed, our staff has the expertise to deftly structure, negotiate and expose risks. We endeavor to set up strong long-term relationships that are successful for both sponsor and investor.

Mezzanine debt (also called subordinate debt) is a structured financing product used to increase leverage. It is generally higher risk than senior debt, and therefore commands higher return rates.

Mezzanine debt can be secured by a second deed of trust / mortgage, and is therefore subordinate to the senior mortgage, but is superior to any equity positions. Mezzanine loans may also be secured by a pledge of partnership interest in the ownership entity. Such unsecured mezzanine debt is treated as preferred equity.

Mezzanine financing is limited by ratios based on the combined senior and subordinate debt. The most important of which include loan principal to property value (LTV), and annual net operating income to annual debt service (DSCR). Subordinate lenders usually accept some minimal risk to their principal balance and may be willing to accrue some portion of their interest payments.

The flavors and sources of mezzanine debt are myriad. Designing structured financing is an art form that takes many years of financing experience and access to a multitude of sources. Altum Partner is adept at arranging financing to accommodate unusual needs and higher leverage structures. We have become known for this type of “financial engineeringâ€.

Litigation Support

A leader in the practice of Franchise law for over 35 Years.

Richard L. Rosen, the founder of The Richard L. Rosen Law Firm, PLLC, has been actively engaged in the practice of franchise law in New York City for over 40 years, during which time he has represented countless franchisors and franchisees, both as counsel and as a business adviser. Mr. Rosen has been engaged in virtually all apsects of franchising during his career. He has counselled and represented franchisors in the setting up of franchising systems and programmes, formed franchising entities, drafted and neogtiated franchise agreements, multi-unit area development agreements, master franchise agreements, registration statements, disclosure and other ancillary francise documents; represented franchisees and franchisee associations; litigated in both state and federal courts; and mediated, arbitrated and litigated matters on behalf of both franchisors and franchisees. He has represented franchisors and franchisees in essentially every field.

Mr. Rosen is a founding member and immediate past chairman of the Franchise, Distribution and Licensing Law Section of the New York State Bar Association, a member of the Steering Committee of the National Franchise Mediation Program, The CPR Institute For Dispute Resolution Distinguished Panel of Neutrals and the Chairman of the AAFD’s Fair Franchising Standards Committee. He has frequently lectured on a variety of franchise topics before various groups and has been interviewed on both television and radio, the American Bar Association Journal, the Franchise Times, The Wall Street Journal and Forbes Magazine, regarding franchising. Mr. Rosen is a contributor to “Franchising 101 The Complete Guide to Evaluating, Buying and Growing Your Franchise Business†compiled by the Association of Small Business Development Centers, and has written many articles on the legal and business aspects of franchising. Mr. Rosen and his firm are the authors of the section on Franchise Law in the United States which appears in the third, fourth and fifth editions of the (international) Franchise Law Review as well as the review of franchise lawin the U.S. which appears in the 2017, 2018, 2019 and 2020 editions of the International Comparative Legal Guide to Franchise.

Richard has been listed in Who’s Who in America for over 30 years (and has recently been chosen to receive its Lifetime Achievement Award), Who’s Who in American Law, Who’s Who in the World, Best Lawyers in America, “101 Best Franchise Lawyers in America†(the Franchise Times), the Franchise Times “Hall of Fame†of Franchise Attorneys (charter member), Chambers, Best Lawyers in the U.S., America’s Super Lawyers, Who’s Who Legal: Franchise and The International Who’s Who Legal (Compendium Edition,) The International Who’s Who of Business Lawyers and a recipient of the Global Award of Franchise Law. In 2016, 2017, 2018, 2019 and 2020 Richard was chosen as Franchise Attorney of the Year for the U.S. by the Lawyer Monthly. Richard was chosen as Franchise Attorney of the Year for the U.S. in 2017, 2018, 2019 and 2020 by Global 100. Richard Rosen was named Franchise Lawyer of the Year in United States by intercontinental Finance and Law in 2017, 2018, 2019 and 2020. Richard and his firm recently received the Global Franchise Award for the Best (International) Franchise Law firm for 2020. In 2018, 2019 and 2020, Richard was named one of the 100 Best Attorneys in the World by LegalComprehensive.com.