Miami, FL / Portland, ME – Mark McClure, Managing Director of GenX Capital Partners, announced the successful closing of a $31 million refinance for Presidium Group, a Dallas-based real estate development firm, to fund the condo conversion of the historic Pepperell Mill in Biddeford, Maine. McClure secured the financing through Tryperion Holdings, a private real estate investment firm headquartered in Beverly Hills, CA. The $31 million financing represents the largest commercial real estate loan for the State of Maine in 2024.
“It was a very complex deal with many moving parts, but when you’re fortunate enough to have an A-plus sponsor and A-plus lender coupled with top notch legal teams on both sides, you know it will get done," McClure said
The refinance enables Presidium Group to transition the Pepperell Mill from rental apartments to high-end condominiums, capitalizing on the demand for upscale, yet affordable housing in southern Maine. The condos will blend modern living with industrial charm, preserving the area’s architectural heritage.
The Presidium Group team leading the Pepperell Mill project includes Chris Rhoades, Andrew Preston, and Will Andress, who are known for their innovative approach to adaptive reuse projects.
“This financing marks an important milestone for the Pepperell Mill redevelopment,” said Andre Preston, Principal at Presidium Group. “The collaboration with GenX Capital Partners and Tryperion Holdings has allowed us to create a new vision for this historic property while delivering value to the Biddeford community.”
The Pepperell Mill project is expected to continue to contribute significantly to the revitalization of Biddeford, further cementing the city’s status as a hub for dynamic residential and commercial growth in Maine.
The Tryperion Holdings team consisted of Jeffrey Karsh, Jonathan Etra and Greg Rollman.
December ended up being a busy year ending month for McClure and GenX Capital Partners as they close on more than $118 million in commercial real estate transactions. For 2025 and beyond the firm is looking to source deal sizes of $25+ million and can deliver up to 95% of the capital stack in most cases through their strong debt and private equity partnerships.
For more information on GenX Capital Partners go to www.GenXCP.com.
GenX Capital Partners focuses on real estate development for it's own account as well as orginates debt and equity financing for best in class CRE sponsors across the 5 core classes of assets. The firm is based in Miami, FL and focuses on debt transactions of a minimum of $15 million up to $200+ million, and equity check sizes from $5-$50+MM.
GenX Capital Partners is overseen by Managing Director Mark McClure.
