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Fast-Acting Commercial Real Estate Success

Sharing advice and guidance is helpful, but true success stories tell so much more about how important the business-banker relationship is. I thought it would be helpful to highlight our recent experience working with Infinity Properties, a commercial real estate investment firm based in Florida and led by co-managing directors Brett Schlacter and Shane Decker.

Infinity Properties specializes in acquiring off-market light industrial spaces and improving them so they produce higher rents and thus more revenue.

“Industrial has proven to be one of the strongest-performing asset classes throughout Covid-19 and for that reason we are laser-focused on acquiring quality warehouse assets in Florida,” Decker said. “But the stuff we’re looking for is not widely marketed.”

In this tight market, the firm often has a limited window — often as little as 45 days — to close deals. Sellers don’t want to wait to get their money, and so the Infinity Properties team needs a lender that can give them assurance that the deal will close quickly.

Valley Bank has done just that. Not once, but twice, helping the Infinity Properties team secure a $4.9 million loan for a 70,000-square-foot, multi-tenant industrial park in West Palm Beach, as well as a $3.5 million loan for a 30,000-square-foot light industrial facility in Broward County. The latter deal closed in less than 30 days.

Schlacter and Decker said good communication, no excuses and a sense of urgency are what makes all the difference in a banking partner.

“If Jordan says he’s going to do something, he’s going to do it,” Decker said. “A lot of lenders, though, they’ll quote you something right off the bat, and then the terms will change later on. We’ve never been re-traded by Valley. They’re true to their word. The last thing we want is a last-minute change, which can fundamentally affect everything.”

Such responsiveness makes sense for the bank, too, because clients’ success is our success. According to Schlacter and Decker, in the seven months since they acquired the industrial park in West Palm Beach, its cap rate has risen from less than five to double digits.

That means they have more income to put toward additional deals: In the past eight months alone, Infinity Properties has acquired 250,000 square feet of light industrial property and they have a goal of acquiring as much as 2 million square feet over the next two years.

“The juice is there,” Schlacter said, “but it’s on us, as operators, to squeeze it out. It’s critical to have a banking partner who wants to execute our business plan just as much as we do.”

Jordan Simler is a career banker and Senior Vice President for Valley Bank with 15 years working in commercial real estate. Jordan leads the Broward and Dade County commercial lending groups, composed of experienced lenders that have made more than $1 billion in loans to South Florida businesses and community members.

– Valley National Bank is a Member of the FDIC and Equal Opportunity Lender.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.