Stoneleigh Partners Acquisition Corp.
Stoneleigh Partners Acquisition — SPAC Merger (April 2009)
13 slides from Stoneleigh Partners Acquisition's SPAC merger presentation, Apr 21, 2009
Slide 1: Stoneleigh Partners Acquisition Corp. Transaction with Realty Finance Corp.
STONELEIGH PARTNERS ACQUISITION CORP. Transaction with April 2009
Slide 2: Safe Harbor
Safe Harbor This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about Stoneleigh Partners Acquisition Corp. (“Stoneleigh”), Realty Finance Corp. (“RFC”) and their businesses after completion of proposed transaction. For
Slide 3: Transaction Overview
Transaction Overview Stoneleigh Partners Acquisition Corp. (“Stoneleigh”) has entered into a letter of intent for a transaction with Realty Finance Corporation (“RFC” or the “Company”), a commercial real estate specialty finance company primarily focused on managing a diversified portfolio of commer
Slide 4: Opportunity
Opportunity Partner with highly experienced real estate work-out management team from both RFC and Stoneleigh RFC Kenneth J. Witkin, CEO, has extensive real estate, investment and work-out experience; previously with Bank of America and FleetBoston Dan Farr, CFO, has extensive finance and investment
Slide 5: Stoneleigh Partners Acquisition Corp.
Stoneleigh Partners Acquisition Corp. Stoneleigh, a special purpose acquisition company (“SPAC”), completed its IPO in May 2007 raising $222.8 million Formed for the purpose of consummating an acquisition by May 31, 2009 Not limited to a particular industry, although intends to focus on businesses h
Slide 6: Realty Finance Corp. Management Team
Realty Finance Corp. Management Team Kenneth J. Witkin, Chief Executive Officer and President Joined RFC in September 2007 Previously served as an Executive Vice President, Senior Division Executive in the Commercial Real Estate Banking Group of Bank of America, where he was responsible for all comm
Slide 7: Realty Finance Corp.
Realty Finance Corp. Realty Finance Corp., is a commercial real estate specialty finance company primarily focused originating, acquiring, investing in, financing and managing a diversified portfolio of commercial real estate-related loans and securities (whole loans, bridge loans, B Notes, CMBS and
Slide 8: Current Realty Finance Structure
Current Realty Finance Structure Current RFC Shareholders 30.9 million shares 100.0% Realty Finance Corp. CDO I JV CDO II (2006) Investments (2007) Original Capitalization Original Capitalization $600.0 million $1.0 billion
Slide 9: Stoneleigh Extension and Transaction Approved
Stoneleigh Extension and Transaction Approved Stoneleigh is seeking to receive an extension from its shareholders to allow it to complete its transaction with RFC by December 31, 2009 Stoneleigh’s goal is to retain as much capital as possible as it believes many attractive distressed real estate- re
Slide 10: Pro Forma Realty Finance Structure
Pro Forma Realty Finance Structure Stoneleigh closes transaction with RFC with an initial $25.0 million cash investment Stoneleigh to receive 31.0 million shares (50.1% ownership in RFC) and a $31.25 million principal amount of RFC Note Stoneleigh Current RFC 31.0 million RFC shares Shareholders $31
Slide 11: Loan Portfolio (As of 12/31/08)
Loan Portfolio (As of 12/31/08) Source: RFC’s 10-K dated December 31, 2008. (1) Spread over 30-day LIBOR. (2) Includes originated whole loans, acquired whole loans and bridge loans. (3) At December 31, 2008, the Company had loan loss reserves of $139.7 million against these assets out of our total l
Slide 12: Loan Portfolio (As of 12/31/08)
Loan Portfolio (As of 12/31/08) Source: RFC’s 10-K dated December 31, 2008.
Slide 13: CMBS Portfolio (As of 12/31/08)
CMBS Portfolio (As of 12/31/08) Source: RFC’s 10-K dated December 31, 2008.
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