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Dominion America Realty Advisors Restructures Debt on NoCal Shopping Center


LOS ANGELES, CALIF. (August 2, 2010) - - Dominion America Realty Advisors (“DARA”) announces the successful closing of a loan modification and restructuring of the financing on a major Northern California retail shopping mall. DARA’s Vice President, Loren Thall, negotiated the extension, discount and loan modification of an expired CMBS loan on behalf of the borrower, an experienced retail shopping center owner who owns several commercial properties.

The 410,000 square foot retail shopping mall, constructed on approximately 30 acres of land in 1985 and 1986, had experienced a severe economic downturn due to the loss of two of its four anchor tenants. DARA, through its borrower advocacy program, was able to reach an amicable conclusion with the special servicer on behalf of the CMBS bond holders to discount, restructure, and extend the original $12,035,000 loan.

The new financing arranged by DARA provided the borrower with a 21% reduction of the original loan principal and extended the loan term by an additional year at the existing rate. The result was that the borrower was not forced to file bankruptcy, the most likely scenario prior to DARA’s re-negotiation efforts, thus keeping both his credit rating and his good name intact.

“DARA was able to act efficiently on behalf of the borrower to establish a clear picture of the current situation, and was able to have the existing lender carry back the discounted loan,” commented DARA’s Thall. “I believe this is the first time this has happened in the marketplace”.

Dominion America Realty Advisors (DARA), a subsidiary of Dominion Mortgage Corporation, is a borrower advocate in the negotiation, extension and discount of existing mortgages. DARA acts on behalf of the borrower on mature CMBS, bank, and institutional real estate loans. The company has saved borrowers equity in many difficult scenarios in which the lender previously refused to discuss a resolution with the borrower or the borrower’s attorney. DARA has been able to negotiate more favorable terms and reduce principal balances for many borrowers, often saving them from having to file for bankruptcy and helping to protect their credit rating.


Dominion Corporation was established in 1977 by commercial real estate financing veteran Paul Horvitz and is a “nationwide” provider of real estate loans starting at $1,000,000 and ranging up to over $20,000,000. In addition to offering financing for single-tenant, owner-occupied and most other property types, Dominion has established a reputation for being able to finance properties that other lenders shy away from, such as healthcare facilities and other unique assets. The company offers competitive rates on most commercial real estate types, including office, industrial, hospitality, multifamily and special-purpose properties. This includes healthcare real estate loans on medical office, clinics, hospitals and most long-term care facilities, such as independent living, assisted living and skilled nursing facilities.

For more information, go to: If you have additional questions or would like to speak to us, please contact:

Loren Thall
Dominion Corporation
11355 West Olympic Blvd., Suite 210
Los Angeles, CA 90064
Phone: (310) 477-3041 x127

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