Since inception in 1999, Goedecke & Co. has arranged in excess of $4.15 billion in financing in more than 400 transactions with more than 80 different capital sources. Goedecke production during the recession years of 2008 and 2009 totaled 45 financings for $474 million.

Virtually all Goedecke & Co. business is handled on an exclusive assignment basis.  Repeat business is a hallmark; the company has a number of clients with whom ongoing relationships extend to more than 25 successful transactions.

Financings to date have included construction, interim and permanent loans, as well as institutional joint ventures, participating mortgages and private equity investments. Property types have included office, retail, industrial, apartments, condominiums, hotels, biotech (lab), self-storage, golf courses and marinas. Sources of capital have included life insurance companies, commercial banks, CMBS lenders, government sponsored agencies, pension fund advisors, opportunity funds and private investors.

2009 was obviously a uniquely trying year for the capital markets, and commercial real estate followed residential real estate into deep recession.  From mid-2007 on the CMBS market no longer functioned; after September 2008 many life companies elected to preserve liquidity by investing in bonds rather than making commercial mortgage loans.  Money center and investment banks, burdened as they were with toxic residential debt and securities, fought for their existence, further removing liquidity from commercial real estate and weakening the economy. 

However, in Goedecke & Co.’s northeastern markets many of the area’s local and regional banks were relatively healthy, having been less caught up in the housing mania which touched off the recession.  As a result, during 2008 and 2009 the company addressed clients’ capital needs by closing 21 financings totaling $262 million with 17 different banks, including participants.

As 2009 progressed, Goedecke & Co. became very active in property recapitalizations, including both discounted loan payoffs and in satisfying the needs of both borrowers and lenders for additional elements in the “capital stack.”