December 5, 2023 – Whistleblowers have reached out to Viceroy en-masse to provide evidence and public citations of current, distressed Arbor deals and underlying assets.
This case study will track Arbor’s underlying asset delinquencies and debt service coverage ratios (DSCR) across a specific syndicated portfolio in Jacksonville. The properties are as follows:
- Silversmith Creek (7211 Crane Ave, Jacksonville FL)
- Oasis (5800 University Boulevard West, Jacksonville FL)
- Lakewood Oaks (3534 Smithfield St, Jacksonville FL)
These properties were acquired over the last 1-2 years, at which time they were purchased at almost 100% premiums to their previous sales in 2018-2020, only 3-5 years ago.
We also explore how syndicate sponsors are unduly incentivized to overpay for investment properties as they clip the ticket on the acquisition price, financing amount, assets under management (“AUM”), and entrance/exit fees.