Case Studies

Selected Work

Selected transactions across real estate and structured finance, emphasizing capital structure, market context, and execution.

Real Estate

United States

Logistics · Culver City, Los Angeles

Culver City Last-Mile Logistics Mezzanine Financing

Mezzanine financing for a last-mile logistics facility in Culver City, Los Angeles, backed by a long-term lease to a global technology leader, involving cross-border credit analysis and multi-counterparty coordination.

IBK Securities · Mezzanine Financing

Financing Size

$93.0M

Multifamily · New York, United States

New York Multifamily Portfolio Mezzanine Refinancing

Mezzanine refinancing of a two-asset New York multifamily portfolio, involving capital-structure analysis, property-level underwriting, and cross-border execution.

IBK Securities

Mezzanine Refinancing

$100.0M

Multifamily · New York, United States

420 Kent Avenue Multifamily Mezzanine Financing

Arranged mezzanine financing for a major multifamily asset — underwriting the asset, structuring the capital stack, coordinating lenders, and executing the transaction.

IBK Securities

Mezzanine Financing

$90.0M

Commercial Real Estate · Los Angeles, United States

Wilshire Grand Senior Mortgage Financing

A senior mortgage position and its subsequent securitization through an ABCP structure, executed during the COVID-19 period.

IBK Securities

Senior Mortgage Financing

$20.0M

South Korea

Office · Seoul, South Korea

Seoul Office Acquisition

Evaluated the investment structure and execution considerations for a forward-purchase equity investment in an office development.

Korea Asset Investment · Acquisition Financing

Investment Size

$163.6M

Logistics · Jeju, South Korea

Jeju Logistics Facility Secured Financing

Arranged secured financing for a logistics facility leased to an NYSE-listed e-commerce company.

Korea Asset Investment

Secured Financing

$35.5M

Residential Development · Busan, South Korea

Busan Residential Land Acquisition Financing

IBK Securities

Land Acquisition Financing

$89.1M

Residential Development · Hanam, South Korea

Hanam Residential Interim-Payment Financing

An interim-payment financing facility for a residential development in Hanam, South Korea.

ICBC Korea

Interim-Payment Financing

$123.0M

Logistics Development · Gimpo, South Korea

Gimpo Logistics Complex Development Financing

Arranged development financing for a logistics-complex project — structuring the capital stack and coordinating lenders.

Korea Asset Investment

Development Financing

$109.1M

Residential Development · Jeju, South Korea

Jeju Residential Development Financing

Coordinated capital raising across land-acquisition, project-finance, and interim-payment facilities, spanning a 96-unit residential development's full financing lifecycle.

IBK Securities

Development Financing

$87.5M

Residential Development · Seoul, South Korea

Seoul Residential Land Acquisition Financing

Korea Asset Investment

Land Acquisition Financing

$33.6M

Residential Development · Hongcheon, South Korea

Hongcheon Residential Development Financing

Korea Asset Investment

Development Financing

$9.1M

Residential Development · Incheon, South Korea

Incheon Residential Land Acquisition Financing

IBK Securities

Land Acquisition Financing

$4.5M

Structured Finance

Synthetic CDO Issuance

Structured and issued a $27.3 million synthetic CDO combining sovereign credit exposure through credit default swaps (CDS) with a separate investment in subordinated hybrid bonds. Designed the transaction structure and tranche economics to integrate CDS premium and bond coupon income, enhance portfolio yield, and balance credit, spread, and structural risks.

IBK Securities

Synthetic CDO

$27.3M

Structured Credit · United States–South Korea

TALF Feeder Investment

Structured and closed a $100 million feeder investment linked to the Term Asset-Backed Securities Loan Facility (TALF), repackaging U.S. GP fund exposure for institutional LPs and assessing fund terms, investment economics, and structural protections.

IBK Securities

Institutional Feeder Investment

$100.0M

Mentored Study

Applied project work completed during Duke's Fuqua MBA program.

Real Estate Finance

Real Estate Acquisition Underwriting

Trademark Properties — Duke Fuqua MBA Mentored Study

Summer 2026

Context: An eight-week Duke Fuqua MBA Mentored Study engaged with Trademark Properties, a Raleigh-Durham, NC commercial real estate firm, to evaluate a confidential office acquisition opportunity in the Raleigh-Durham market.
Role: Sole modeler and analyst, working directly with the firm's underwriting lead through weekly review cycles.
Approach: Built a fully linked, scenario-based acquisition underwriting model — cash flow, debt structuring, return, and sensitivity analysis over a multi-year hold — reconciled against executed leases and broker materials, with every input traceable to a documented source.
Outcome: Delivered a defensible, decision-ready underwriting model supporting the firm's live acquisition evaluation, alongside the academic deliverables required for course credit. Property-level details remain confidential per the engagement's terms.