Summer Street Advisors, LLC (“SSA”), a boutique commercial real estate and financial services advisory group, has provided third party due diligence and analytical services to a private investor on the successful acquisition of a nationally chartered bank. The investor intends to use this Bank as a platform for additional bank and loan portfolio acquisitions.
SSA provided the investor with a valuation of the bank's loan portfolio (including performing, non-performing and REO assets), an estimate of loan loss reserves and an assessment of the bank’s capital adequacy. Additionally SSA advised on strategies to mitigate loan portfolio risks, improve flexibility of the bank's balance sheet and minimize funding costs.
Mark Hall, CEO of Axeon Holding Company, acquirer of the bank commented, "SSA provided real insight on the valuation of the target bank. Their in-depth risk management focus and loan valuation expertise provided our company with a substantive opinion on the financial condition of the institution, and an independent view on projected loan losses. Working with SSA enabled Axeon to make a confident, informed decision resulting in the successful acquisition of the bank."
Jack Mullen, Partner at SSA, added, "The assignment brought to bear two core competencies of SSA: bank analysis and loan valuation…in this case, commercial real estate, C&I and consumer loans. The engagement further showcases SSA's ability to provide proactive, value added advice to our clients seeking to capitalize on the opportunities in the bank, real estate and distressed debt markets.”
About Summer Street Advisors, LLC (SSA)
Summer Street Advisors LLC (summerstreetre.com) is a commercial real estate and financial services advisory firm founded by alumni of GE Capital Real Estate’s Global Valuation Team. SSA offers a rigorous risk management approach in providing commercial real estate and loan investment analysis and valuation, transaction due diligence, bank and REIT advisory, asset/portfolio management and workout.