Bob Iger, CEO of Disney wakes up on May 5th – learns that Wall Street is cutting their rating on Disney lowering the target for the stock price from $120 to $112. We were in the height of the COVID Pandemic, with the Disney theme parks shut down, and almost all of the world’s movie theaters shuttered. It made perfect sense that Disney would be going through this rollercoaster ride.
Walt Disney – billed as ‘the happiest place on earth’ – overnight its future appeared bleak. Where was the Disney Magic that we all love and cherish? And then just last week in the midst of our economic shutdown the shining beacon of innovation and creative thinking resurfaces
Mickey Mouse meet LeBron James!
The NBA approves a plan is to bring 22 of the league’s 30 teams to Walt Disney World for a short regular season and full playoffs. Walt Disney’s Orlando campus is the perfect location. With its empty hotels and restaurants, and campus of 25,000 acres, the sports facility can be configured into 20 basketball courts, allowing the NBA to house, entertain and play multiple games (no fans in the stands), and still have a practice space.
This collaboration with the NBA is mutually beneficial, not only does it give the NBA the perfect location, it fills Disney World’s hotels and restaurants. This gives Disney and ESPN an opportunity to save the basketball season, create revenues for all involved and satisfy sports fans.
Creativity and ingenuity at its best!
As we see our industry heading back to their home courts… we at Mansfield are finding new opportunities and plays for our clients to continue to score.
Like Disney, we recently closed two deals here in Los Angeles… a non-recourse $3.1 million refinance at 3.2% and an acquisition loan at 75% LTC for a Medical Office Building. Each loan was placed with different lenders that are aggressively rebuilding their pipelines.
Mansfield excels in finding creative solutions for owners and developers.
These tumultuous times call for expertise and creativity to execute capital solutions. What are you working on? Let’s be creative!! Give us a call!!
Philip Cohen | Principal
Office: 310-551-2903 xt 10
CA RE License #01735947
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