Frank B. Bazzel, Jr. CFA

Frank_BazzelMr. Bazzel joined Bullock Mannelly Partners in 2010 as a Managing Director with the Investment and
Finance Team. Frank has an extensive background in the sourcing of capital and financial structure
of real estate. Frank focuses on sourcing/structuring debt and equity for real estate transactions.

Recent Major Transactions:
  • Multi-Family Development Capitalization: Represented sponsor/developer to source and close JV development equity with an institutional partner to capitalize a 216 unit garden style multi-family project in Tallahassee, FL.
  • Multi-Family Development Capitalization: Represented sponsor/developer to source and close JV development equity with an institutional partner and construction debt to capitalize a 256 unit garden style multifamily project in Savannah, GA.
  • Hotel Note Purchase Capitalization: Represented sponsor to source and close JV equity capital with an institutional partner to capitalize an 89 key limited-service hotel note acquisition in Charlotte, NC.
  • Boutique Hotel Refinance: Sourced and closed a $24.0m permanent loan to payoff a construction lender for a 102 unit private-boutique hotel with a securitized CDO lender. Negotiated a $2.0m loan proceed earn-out within the CDO structure after occupancy and RevPar hurdles were met.
  • Catalyst Condominiums: Sourced and closed a $73.2 million construction senior loan and a $33 million mezzanine loan. Brought in a $25 million participant lender after lead bank’s syndications desk was unsuccessful finding a participant. Negotiated adjusted release price with land lender that reduced equity outlay
    by $3.8 million or 60%.
  • 245 Perimeter Center: Sourced and closed a $56 million non-recourse acquisition/development loan to acquire a 285,000 square foot office building with 12 additional acres of developable land. Initial financing equaled 80% of cost and 98% of stabilized office building value. Negotiated and structured deal to defer
    required TI/LC holdback two years, saving Owner an additional $4.25 million of initial equity outlay. Met sixty-day closing requirement to avoid costly seller financing.
  • SkyPoint Condominiums: Sourced and closed a $35 million inventory loan facility to pay off remaining senior and mezzanine construction loan balances. Inventory loan reduced cost of debt by 400% and funded $10 million of future capital costs. Loan was closed in October 2007 after recognition of condominium bubble. Then in March 2008, closed similar inventory loan for Avenue Condominiums.
  • Encore Condominiums: Sourced and closed a $63.2 million construction loan. Structured a 6.5% Tax Increment Financing loan from Nashville’s Development Housing Authority and an 80% first mortgage loan. Created a $2.5 million arbitrage opportunity for Owner by placing a conduit bank in the deal that required a lower interest rate.
Previous Employer/Positions:
  • 2009-2010 Greystone Investments
  • 2005-2009 Novare Group
  • 2002-2005 Prudential Mortgage Capital Company
Education:

MBA, Emory University Executive Program
BA, Washington and Lee University
Chartered Financial Analyst