Emax Financial & Real Estate Advisory Services, LLC

Government agencies and corporate clients with real estate, direct loan, and loan guarantee programs depend on the capital markets to successfully execute their projects and programs. The financial crisis and continued volatility in the primary and secondary markets have increased the importance for agencies to monitor the capital markets.

Emax professionals have significant capital markets expertise and knowledge, and a demonstrated track record in transaction advisory and financial program execution. We are also investors and investment bankers.  Emax and its corporate affiliates have closed billions of dollars of real estate transactions including acting as principals in the investment of large scale development.

Our services and expertise include:

• Financial Advisory
• Mortgage Loan Sale Services
• Default Advisory Services
• Financial Product Development and Enhancement
• Financial Support Services
  • Credit Advisory Services
  • Financial Feasibility Assessment
  • Financial Modeling and Tool Development
• Business and Real Estate Valuation
• Rating Agency Support
• Real Estate Financing

Financial Advisory

Emax uses its wide breadth of expertise in real estate and capital markets to advise clients on loan sales, financial structuring, direct loan and loan guarantee programs, and new financial product development.    We support our clients by keeping them abreast of changes and trends in the financial markets, creating sophisticated analytical models for valuation and risk detection, and making recommendations that mitigate risk and ensure return. The financial markets and regulatory environment are constantly evolving, and must be closely monitored to determine the impact of proposed policy and regulatory changes.  Emax professionals use a variety of communication tools to ensure our clients are armed with the most current information to anticipate potential challenges and take advantage of market opportunities.

Mortgage Loan Sales

Emax has extensive experience in the sale of portfolios of performing, sub-performing and non-performing assets.  We have provided loan sale advisory services for commercial, multifamily, healthcare and single-family loan sales of more than $7 billion combined, and have experience with different sale structures including whole loan sales and joint ventures.  Our seasoned market experts advise our clients on how to maximize net sales proceeds by evaluating the client’s financial and portfolio objectives, and analyzing the assets and market to determine the optimal loan sale structure and timeline. Emax professionals have experience with competitive, negotiated and joint venture sales, and understand the market and challenges public agencies face in asset disposition. We do not use a “one size fits all” approach, and customize each loan sale for the client. Loan sale advisory services offered include:

• Identifying the client’s objectives and goals;
• Performing sophisticated modeling and analysis of the loans to determine key portfolio characteristics;
• Assessing the current market and investor demand for the asset type;
• Recommending the asset disposition strategy to maximize return;
• Preparing marketing materials and conducting a comprehensive marketing campaign to potential bidders;
• Supervising preparation of the contractual documentation including the Confidentiality Agreements and Bidder Qualification Statements;
• Qualifying bidders;
• Preparing loan data file, loan servicing files and property due diligence for electronic  posting;
• Creating and validating the bid evaluation model;
• Conducting a “dry run” to prepare for bid day;
• Conducting the bid and evaluating bids submitted;
• Identifying the winning bidder and notifying bidders of outcome;
• Assisting with closing and the transfer of assets.

Depending on client needs, Emax can serve as the Loan Sale Advisor or as the Oversight Provider that provides an objective assessment of the loan sale preparation and execution and recommendations for improvement as appropriate.

Default Advisory Services

Emax serves as a financial advisor to lenders, creditors, and/or trustees with fiduciary responsibility for defaulted assets. The firm specializes in bond and real estate secured workouts. Emax assists in the negotiation of settlement agreements with lenders; structures, analyzes and selects various refinancing and liquidation alternatives; and provides asset management services. Asset management services include performing site visits, reviewing monthly property financials, approving annual budgets, and preparing pro forma cash flow analyses.

Financial Product Development

Emax has advised various agencies on the development of innovative financial products to facilitate lending in the primary mortgage market and to promote liquidity in the secondary mortgage market.  The recovery from the financial crisis and recession has been slow, and the regulatory environment is causing uncertainty in the markets.  With the volatility in the real estate and capital markets, Emax recognizes the continued challenges that developers face in obtaining project and bond financing, and proposes creative solutions for clients with direct loan or guarantee programs that manage risk and facilitate project closings.      Emax is skilled at navigating financial product development for federal agencies, and understands that a loan guarantee must meet market requirements and conform to government authorities and regulations.

As part of our new product development approach, Emax analyzes the impact of proposed products and policies to ensure operational feasibility, market acceptance, regulatory compliance and incorporation of best practices; formulates recommendations regarding program enhancement; and reports the results in a memo, presentation or white paper.

Financial Support Services

Emax’s skill-set as a financial advisor spans the spectrum of services required to ensure a project remains viable.  We have served as financial advisor for a number of governmental agencies and private sector financial institutions.  Emax has a thorough understanding of real estate development and operational budgeting processes coupled with a strong knowledge of government funding cycles, budget requirements, and advanced modeling techniques that gives us the ability to assist agencies in keeping its projects moving forward and operating as projected.

Credit Advisory and Credit Scoring

Emax helps federal agencies planning and operating federal lending, guarantee or loan sale programs to ensure compliance with the federal credit guidelines.  Emax is often sought out due to our expertise in Credit Advisory and federal credit reform, and the services offered are  listed below.

• Determining scoring for loan sale transactions and loan modifications;
• Creating financial models, and performing model review and validation;
• Performing compliance review for annual budget, accounting and reporting requirements;
• Implementing new credit programs;
• Developing handbooks;
• Developing and conducting training.

Financial Feasibility Assessment

Emax can help an agency determine where it stands fiscally by providing the client with a detailed understanding of program revenue, budget expenditures, and remaining funds.

Financial Modeling and Tool Development

Emax has complex financial modeling capabilities that are used to determine financial feasibility for real estate transactions, loan sale portfolio analysis, and credit scoring.  Emax professionals can customize sophisticated financial models and create tools to make decisions and automate tasks.

Rating Agency Support

Emax can provide an organization with direct support during a rating agency site visit, and assist with preparation and responses to post-site visit requests for information and/or rigorous risk and financial analysis.  Emax professionals understand the rating agency criteria for different types of real estate and energy projects, and keep abreast of the evolving criteria. Emax has extensive experience assisting with the preparation of supporting documentation and presentations addressing key credit considerations and major risks that could affect the long term viability of a project.  In addition, Emax can provide support for the tour and presentation logistics follow up meetings with the lenders, investors, guarantors, and other analysis.

Business and Real Estate Valuations

Emax has a wealth of experience in the development of Valuation Methodologies for Business and Real Estate.  The firm performs thorough analyses in order to determine valuation for negotiation purposes, sales or leasing.  It is critical that valuations for performing, sub-performing and non-performing loans, loan portfolios and the underlying real estate or business assets which collateralize loans are accurate.   This can involve the creation of sophisticated cash flow models and the review of third party reports such as appraisals and engineering reports.  Emax works actively with project and business owners, lenders, joint venture partners, and potential buyers to maximize value for both buyers and sellers, and has experience developing valuation methodologies for a range of asset types including single-family, multifamily, healthcare, commercial, and businesses.

Real Estate Financing

To achieve a viable and successful real estate transaction, design, construction, finance and policy must be considered and navigated. Privatization poses particularly difficult challenges that require specialized knowledge in federal, environmental and energy regulations, management of government assets, and private sector negotiations.   On behalf of a client, Emax analyzes the transaction to determine if it is financially viable and can qualify for competitive financing from a lender or the bond markets under its current project and financial structure or if it needs to be adjusted.

Emax draws on its experience to generate new ideas that will allow projects to obtain financing and to move forward during these turbulent times. Our seasoned professionals bring creative solutions for a complex time.  Emax has historically been an active participant in the principal investment in real estate and debt secured by real estate.  Emax professionals have assisted clients in raising equity and debt in the acquisition of real estate backed debt and the underlying real estate. Emax conducts due diligence. As part of our development and planning practice, Emax has experience engaging 3^rd party vendors to provide appraisals, broker price opinions, title reports, and environmental assessments for commercial and residential properties.

Market foresight is another skill vital to achieving lasting real estate solutions. Emax knows the complications that can negatively affect a project, and this knowledge has enabled us to assist the government in complicated transactions brokered during a tumultuous economy with quick, creative solutions. We have been helping to create programs with financial and policy alignments since the early 1990’s.