Maverick Real Estate Partners
21 statements across 1 episodes · 9 bullish · 1 bearish · 1 people on the record · first statement Nov 9, 2023 by Ted Martell · said 14 times in 1 episodes since 2023 · across every show →
Mentions by year
brought up most by Ted Martell (12), Ted Seides (2)
tap a year for its mentions
Everything said about Maverick Real Estate Partners, oldest first
Nov 9, 2023 bearish
Nov 9, 2023
Nov 9, 2023 bullish
Nov 9, 2023 neutral
Martell: Maverick is reviewing record pipeline volume but closing few deals
“What we've been experiencing in the market for the past 12 months, and really even further than that, going back to the beginning of interest rate hikes, is a bid-ass gap in the market, and so we've never been busy or underwriting or looking at opportunities, …”
Nov 9, 2023
Nov 9, 2023 bullish
Martell: Middle-market NPLs lack systematic capital competition due to complexity
“That middle market space, there's a tremendous amount of opportunity for us to play in it because it's complicated, because the material is complex, and because there's not a lot of other capital pursuing those opportunities, not in a systematic way the way we…”
Nov 9, 2023 positive
Martell: Simultaneously negotiating and enforcing legal remedies resolves distressed loans fastest
“Deploying both of these things at the same time is the most successful means towards facilitating a fast resolution. In other words, you're talking to them, but you're also enforcing your legal remedies.”
Nov 9, 2023
Martell: Friction costs make loan settlements superior to taking property ownership
“If we end up owning the properties, there's really significant friction cost on the transaction due to transfer taxes at broker fees and carrying costs. And so we've found historically that you're better off settling with the borrower before it comes to that.”
Nov 9, 2023 bullish
Martell: Maverick uses custom LLMs to extract loan terms beyond human scale
“We are able to build a large language model that actually ingests the loan documents and pulls terms From those loan documents, inputs them into a spreadsheet. It's able to do that at a rate that is superior to what a human can do, and at a scale that no human…”
Nov 9, 2023 positive
Nov 9, 2023
Nov 9, 2023
Martell: Maverick pays no bonuses, offering above-market salaries and carry
“A lot of firms in the real estate space have more of an eat what you kill structure, but we've decided we don't want to pay bonuses to employees at all. Instead, we pay them a high base salary, and their comp exceeds market comp, and they have the ability to i…”
Nov 9, 2023
Nov 9, 2023 positive
Nov 9, 2023
Nov 9, 2023 neutral
Nov 9, 2023 positive
Martell: Maverick bought a Lower East Side mechanics lien at 50% discount
“On the second transaction that we did, we bought a loan secured by a hotel under construction on the lower east side of Manhattan. There was a mechanics lien sandwiched in the middle of the capital stack. We ended up negotiating with the construction company t…”
Nov 9, 2023 positive
Nov 9, 2023
Martell: Maverick is investing a $317M sixth fund that is 80% institutional
“We're presently investing out of our Sixth private equity style fund, which has about three hundred seventeen million dollars in commitments, and 80% of that capital is institutional, limited partners, foundations, endowments, and pensions.”
Nov 9, 2023 positive
Martell: Deadlock in 50-50 partnerships is a tremendous benefit
“Many people worry about 50, 50 partnerships when you have a deadlock. Well, if you have deadlock, you can't proceed. And so you need to figure out a way to solve that problem. And so in the early days, we would talk about it very calmly. You have to check your…”