Glenfield Capital - Transactions

The Settings of Black Mountain, North Carolina

Glenfield Capital principals organized an investment to provide equity in two separate tranches to a development partner for a $55 million, 350 acre development in Black Mountain, North Carolina.

GC Cedar Grove, LLC, Florida

The firm established an entity to provide mezzanine financing for use in the short-term capitalization of land to be developed as the Cedar Grove subdivision in Panama City, Florida. The project includes the development of town home and single family home lots, all of which have been pre-sold to builders via 4 primary takedowns.

The 181 acre project will yield 563 single family home lots and will help fill a need in the immediate area for affordable housing with an amenity base that is superior to competing developments.

Verizon Wireless, South Carolina

Glenfield Capital principals partnered with another investment firm to assist the owner of Richfield Mall in its recapitalization by separating a Verizon Wireless Call Center from the mall and acquiring it for $18.5 million. Large scale future development plans and a complex reciprocal easement agreement created significant challenges.

Appleton Papers, Kansas

Glenfield Capital founder, James Cate joint ventured the acquisition of a 230,000 square foot industrial facility located in Kansas City, Missouri for approximately $7.5 million. The tenant, Appleton Papers, had just completed an employee led buyout. With the increased financial strength of the tenant and increasing demand for single-tenant properties, the building was sold after a two year hold period.

ModusLink, Utah

The firm joint ventured the acquisition of a 336,000 square foot corporate facility located in suburban Salt Lake City, Utah. The building was acquired for $12.5 million. The current market value of the asset is estimated to be $18 million.

Empire Building, Alabama

Glenfield founder, James P. Cate, acquired a historic landmark building located in downtown Birmingham, Alabama. The investment included structuring short and long term leases with a prominent regional bank. The building was repositioned over the first year of ownership and was sold within 2 years.

Shoppes of Boaz, Alabama

The firm joint ventured the acquisition of a vacant 90,000 square foot Wal-Mart store located in Boaz, Alabama. The property was redeveloped, expanded, and repositioned as a multi-tenant retail property and new leases were completed with mid and large cap, credit-rated companies. The property was completed and leased to 100% within a year.