Joseph Sarcona

Cambridge Wilkinson Investment Bank Closes $90MM Credit Facility for Infrastructure Development Company Cambridge Wilkinson is pleased to announce the close of a $90 Million credit facility for a fast-growing North American infrastructure development company. This facility will support the company’s strategic expansion plans and will increase their capacity to acquire and develop prime assets.   “Private credit investors are actively seeking opportunities to align objectives with companies that have both the track record, the capacity to deliver, and the pipeline to address our national need for robust and ongoing community infrastructure development. Clients, such as this one, are expanding rapidly and need speed, agility, and access to the best strategic investors – this is where our network is well-positioned to help them meet those needs. We believe that the spectrum of infrastructure development and associated financing is growing, has desirable return profiles, and will continue to attract investors for some time,” said Rob Bolandian, Co-Founder and Global Head of Investment Banking at Cambridge Wilkinson. www.cambridgewilkinson.com Capitalize on Our Connections #team #capitalraise #capitalmarkets #credit #privatecredit #cre #realestate #infrastructure #privateequity #finance #dealmaking #investmentbanking #banking

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New Year, Same Stuff Shipping rates are on the rise again. The three-day U.S. East and Gulf Coast port strike by the International Longshoremen’s Association with the US Maritime Alliance in October ended with a contract extension. But that expires on January 15. The October strike ended with an agreement to increase pay but continue negotiations regarding the use of automation in a long-term agreement. The union wants no automation. With talks stalled, Maersk, the world’s second largest container carrier is urging customers to remove cargo from the East and Gulf Coast ports before January 15. The ports at risk handle 68% of all containerized U.S. exports and 56% of imports. A rule of thumb is that it takes about a week to clear the volume of cargo from a one-day port strike (that comes from shipping advisory firm Sea-Intelligence and also from Maersk, one of the largest providers of ocean transportation).

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Great meeting last night with a top elected official for New York State. The BlockQuake team will be working with various elected officials within NYS to help them draft sensible legislation for #digitalassets #crypto. When it comes to financial regulations, as we know, as NY goes, the rest of the country goes, so if anyone has any feedback or suggestions, definitely let me know. This is all about consumer protection. We are still raising capital as well, so now is probably a good time to reach out if interested. It looks like we're finally close to wrapping up this funding round soon. #venturecapital #VC #privateequity #PE #investmentbanking #IB #regulations #cryptoassets #regtech #fintech #blockchain #bitcoin #btc #ethereum #eth #xrp #xrpledger #ripple #audit #compliance #riskmanagement #capitalraise #fundraising #capitalinvestments #startups #founders #consumerprotection #customerprotection

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The Four Seasons in New Orleans is in default. Senior lender is reported to be asking developers to seek an equity capital injection or sell. It is reported that the developer is seeking additional capital, and is looking to renegotiate the loan. Other details: - The $564mm project was developed from 2018-2021. - The luxury condos are currently being marketed for ~$1,500 psf with price ranges between $7-10mm - The project is the redevelopment of the former NoLa World Trade Center -The project sought to improve the riverfront and attract capital to the city in the decade after Katrina - It appears that the project is on a ground-lease - It appears that EB-5 capital was also involved with financing the project - 33 condo units remain unsold - representing approximately half of the residential space; Asking prices are more than double the market average Source: Nola

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The Federal Reserve cut its benchmark overnight borrowing rate by 0.25% on Wednesday and indicated that as few as two more cuts may be coming in 2025. #USBI https://lnkd.in/gueQUSxJ ​

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NEW Trader TV This Week: Ramon Baljé, head of fixed income at Flow Traders, discusses trends he is seeing in algo trading and exchange-traded funds as desks prepare for the final weeks of the year. He looks at evolving activity outside of market hours across regions, including blurred lines across market close and open, and how ETF flows are interacting with bond market liquidity. Baljé also unpacks what needs to be on trading desks’ radar coming up to year-end and going into 2025—including what he sees as the biggest game changer for European markets. This Week is supported by Cabrera Capital Markets and MTS Markets. Subscribe to the weekly show here: https://lnkd.in/ey5ZNUPn #Trading #yearend #thisweek #capitalmarkets

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📈🏢 Aby Rosen's RFR Holding is facing a staggering $2.5B debt bill as defaults pile up! 💥 🔎 According to a recent Bisnow article, RFR Holding, a prominent NYC real estate firm, is grappling with mounting debt and defaults. The company, led by billionaire Aby Rosen, has a portfolio of high-profile properties, including the iconic Seagram Building and Lever House. 🏢🏦 📊 The firm's debt load has surged to a whopping $2.5B, with $1.1B in loans maturing this year alone. 💸 The pandemic has hit the commercial real estate market hard, causing defaults to skyrocket. RFR Holding is no exception, with defaults on several properties, including the $200M mortgage on the Seagram Building. 📉 🗣️ "The pandemic has created a perfect storm for commercial real estate," said one industry expert. "Companies like RFR Holding are facing unprecedented challenges as they navigate this difficult time." 🌪️ 🔜 So, what's next for RFR Holding? The company is reportedly exploring options to refinance its debt and avoid further defaults. 💡 With the commercial real estate market showing signs of recovery, there's hope that RFR Holding can weather this storm. 🌞 Stay tuned for more updates on this developing story! 📰🔔 #RFRHolding #CommercialRealEstate #Debt #Defaults #NYCRealEstate

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Spartan Capital Securities, LLC is excited to welcome Focus Universal as a presenting company at the Spartan Capital Investor Conference 2024, taking place on November 4th at The Pierre Hotel in New York City.   Focus Universal Inc. (NASDAQ:FCUV) is a provider of patented hardware and software design technologies for Internet of Things (IoT) and 5G. The company has developed five disruptive patented technology platforms with 28 patents and patents pending in various phases and 8 trademarks pending in various phases to solve the major problems facing hardware and software design and production within the industry today. These technologies combined to have the potential to reduce costs, product development timelines and energy usage while increasing range, speed, efficiency, and security. Focus currently trades on the Nasdaq Markets. Focus Universal's leadership team includes Desheng Wang, Edward Lee, Irving Kau and many other talented individuals. Conference attendees will be uniquely able to engage directly with Focus Universal executives, gaining valuable insights into the company’s development and commercializing new therapeutics to alleviate pain. This one-day event brings together public company executives, institutional investors, and capital market leaders. With over 30 presenting companies, it promises an unparalleled networking experience.   To secure your place at this premier event, visit: https://lnkd.in/enQCABXZ   #SpartanCapital #InvestorConference #CapitalMarkets #InstitutionalInvestors

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Now is not the time to be a gold bear, prices will hit $2,700 this quarter - TDS’ Bart Melek *My $2,700 trading high expectation is not necessary for this quarter, but rather for late Q4-24, Q1-25. https://lnkd.in/gRcXezWk #BarMelek, #BartMelekTDsecurities, #TDsecurities, #TDstrategy, #gold, #interestrates, #Fed, #physicalgold

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Pretty obvious what type of investors the FOMC is targeting with their higher rate regime...honestly who gets hurt more conglomerate PEs or Pension and Insurers who own a lot of this stuff? This is obviously concentrating wealth into tighter hands as the cash cows could care less about interest rates rising, in fact they benefit two fold, one from the weaker levered hands dumping and two from the fixed rate matching USTs that pay them 4.5%!

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Is JB Hi-Fi’s recent agreement to acquire a 75% stake in E&S Trading (e&s) a good acquisition? JB Hi-Fi’s agreed price of $47.8 million for 75% of e&s values the entire company at around $63.7 million. E&S’s FY24 revenue of $230 million and EBITDA of $7 million (a low 3% Ebitda margin), implies JB is paying a premium multiple of 9.1x. When compared to JB’s own trading multiple that hovers around 8-10 (similarly to Harvey Norman), 9.1x for e&s seems high. But, this isn’t just about JB Hi-Fi growing in size—it’s about entering the premium appliance market, which complements their existing product range and vice versa. Unlocking potential synergies in JB Hi-Fi’s infrastructure, particularly in supply chain and technology, should enhance e&s’s operations and profitability. Additionally, JB Hi-Fi’s proven national presence offers a clear path for expanding e&s beyond Victoria. With the current stakeholders of e&s holding 25% (aligning the interests) the upside for them should also be positive as the business scales nationally. My View - the makings of a great acquisition 👍 As a customer of both brands that recently renovated, I can definitely see alignment by JB taking the reigns and bringing in the customer markets of: New Build & Renovation market into the JB house. #mergers #acquisitions https://lnkd.in/gkGef2C8

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🌟 Lineage Inc. Seeks $3.85 Billion in IPO 📈 📅 Key Details: * Seeking to raise up to $3.85 billion in initial public offering. * Offering 47 million shares priced between $70 and $82 each. * Potential market value of $19.2 billion post-listing. 🏢 Company Overview: * Based in Novi, Michigan, Lineage specializes in temperature-controlled storage and logistics. * Operates 482 warehouses with a capacity of 3 billion cubic feet. 💼 Financial Insights: * Reported revenue of $5.3 billion in 2023, up from $4.9 billion in 2022. * Despite a net loss, Lineage demonstrates strong revenue growth. 📈 Market Impact: * One of the largest U.S. IPOs since ARM Holdings Plc. * Positive sign for IPO market recovery with $21 billion raised in first half of 2024. 🔍 Additional Information: * Lead underwriters include Morgan Stanley, Goldman Sachs, and more. * Shares to trade on Nasdaq under ticker symbol LINE. 🌐 Market Outlook: * Reflects robust investor interest in logistics and real estate sectors. * Follows recent IPO filings by other major firms like KKR & Co.'s OneStream Inc. 📊 Industry Trends: * Shows resilience in IPO market amid seasonal variations. * Signals growing confidence in post-pandemic economic recovery. https://lnkd.in/gtHdw_wu

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Investors lose $221 million in U.S. bank failure.    Yesterday, Friday April 25th, 2024, shares of Republic First Bancorp fell 60%.  The market capitalization was less than $1 million. It had started the year with a market-cap of $221 million. It was already a “problem institution” at that time. Yesterday, U.S. regulators seized Republic First Bancorp.   Insured Depositors will not lose any money thanks to the FDIC insurance of $250’000 per depositor.   They estimated the failure will cost the Federal Deposit Insurance Corporation (FDIC) around $667 million. The bank and its depositors will be taken over by another bank, called Fulton Bank. The total assets of Republic were around $6 billion so it’s costing the FDIC around 10% of the bank’s assets.   How safe is your FDIC insured Deposit? The Federal Deposit Insurance Corporation (FDIC) was created in 1933 to assure Americans that insured deposits in insured banks are safe.  Since FDIC insurance began in 1934, no depositor has lost a single penny of insured funds due to bank failure.   To meet its guarantees to investors the FDIC holds a Deposit Insurance Fund (DIF).  As of December 31st, 2023, the DIF held $121.8 billion. Republic’s failure will make but a small dent in the DIF.   The total amount of insured deposits across all banks amounted to $10.62 trillion on December 31st 2023. The DIF is thus big enough to cover 1.15% of these deposits.   How many more banks are at risk?     On December 31st, 2023, there were 52 Institutions described by the FDIC as “Problem Institutions”. Collectively they held assets of $66 billion.    In conclusion, with total assets of $121.8 billion, that’s not a problem for the FDIC unless things get a lot worse.

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While the #Fed has reduced its balance sheet by $256 billion in the past three months, net liquidity has only decreased by $80 billion due to fiscal injections. In other words, U.S. liquidity reduction is smaller than what you might think, and enough to support risk on investing, albeit it's concentrated in #AI beneficiary #stonks and high yield credit. But is this smaller reduction in net liquidity enough to support #BTC, and Van Eck's spot BTC ETF that's due to list on ASX on Thursday? Demand for #crypto is highly correlated to liquidity, so this ETF launch may provide a window into domestic liquidity levels. At any rate, it will be interesting to watch. You can read more about net liquidity and the spot BTC ETF by tapping below. #money #management #markets #investing #economy #economics #macroeconomics #technology #valuation #multiples #business #finance #businessintelligence #takeovers #strategy #sustainability #future #entrepreneurship #venturecapital #ceos #cfos #familyoffices #familybusiness #gold #silver #copper #oil #uranium #bitcoin #crypto #collectibles #wine #fineart #nfts #corporatefinance #mergers #corporatedevelopment #managementconsulting #fundraising #construction #mining

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