2021 Year in Review: Justin Godner, Lancewood Capital

Name: Justin Godner

Job Title: Vice President of Real Estate

Company Name: Lancewood Capital

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2021?
Our family office has two direct lending strategies at this time—we provide bridge loans to property owners and also provide senior credit to real estate lenders. This year we were able to close more than 20 direct bridge loans in NY and FL. We recently closed a $6.45 million bridge loan to finance the completion of a luxury townhouse in Tribeca. The loan offered near-bank pricing and was closed in two weeks. We also grew our lender finance business that provides consistent, flexible and competitive senior financing to alternative real estate lenders in NY, FL and CA. This year we closed transactions with over 15 lenders. We recently closed a $27 million condo inventory advance under a credit facility. We offered near-bank pricing and a customized unit release structure. We highlight this deal because this lender had the opportunity to borrow senior credit from multiple banks but chose us because of our ability to execute and be a reliable partner post-closing.

What was the biggest lesson you learned while working during the pandemic?
We learned once again that a challenging environment increases the demand for flexible, competitive and reliable real estate capital. There was a period of time where many of the conventional capital sources were having a difficult time transacting. Our family office was able to execute for our borrowers when many could not, which allowed for us to develop many new relationships that we will have for a long time. While the debt markets have reverted to pre-COVID liquidity levels, we continue to transact with many of these new relationships. This repeat business is a testament to our ability to deliver competitive financing solutions for our borrowers.

How has your working environment changed over the last year?
Much like the rest of the industry, our firm had to quickly adapt to a remote work environment in March of 2020. Our management and IT team made this a near-seamless transition. In early 2021, we began returning to the office. We are currently in the office most days of the week. While we now allow for more flexibility, especially if someone is spending time in a core market, we believe that an in-person work environment increases collaboration and efficiency.

What is the best advice you received in 2021, and who was it from?
Our owners provided the best advice we received in 2021, namely to remain consistent, disciplined and creative when assessing credit opportunities in an ever-changing environment.