Address: 1720 W. Rio Salado Pkwy, Suite A, Tempe, AZ 85281

Phone: 602-284-4369

Out-of-home has been a major part of my lending career for more than 15 years. That experience led to the creation of Verde Outdoor Capital (“VOC”) in 2021 to provide billboard operators with a capital partner that already understands the assets, cash flow and realities of the business.  Today, VOC lends nationwide and works with operators on acquisitions, refinancing, development, digital conversions and other growth opportunities.

VOC typically starts at $2 million in financing, with the capacity to fund larger loans of $50 million or more when the opportunity fits. We evaluate opportunities based on the operator, assets, cash flow and transaction, not simply the size of the loan.

Pricing varies by borrower and transaction. On average, our loans are priced around WSJ Prime plus 3%, although that can be lower or higher depending on the credit, assets and structure of the deal. Our origination fee is typically around 2%. That pricing reflects more than just the cost of capital. VOC is built to respond quickly, get a term sheet in front of the operator early, and stay aligned on the closing date so the borrower has the funds available when they need them.

Our primary focus is billboard assets such as roadside billboards and wall signs. Our loans can be used for acquisitions, refinancing, recapitalizations, digital conversions, development and other types of expansions. We have recently financed digital kiosks which is a new type of OOH asset we have not financed before. VOC has also expanded into billboard-related real estate financing, particularly easements and other strategic interests tied to billboard sites. We can consider other OOH opportunities on a case-by-case basis.

We look at the full transaction, including operator experience, cash flow, asset quality, collateral, equity and lease terms.  Generally, we like to be under 65% loan-to-value, although we have flexibility depending on the strength and type of loan we are looking at. We typically look for debt-service coverage of around 1.25x or better.  Terms vary by transaction, but we have done amortizations of up to 25 years. We structure the loan based on the needs of the borrower. Because our team understands billboard values, we also typically do not require a third-party appraisal.

One we’re especially proud of is our work with WOW Media in Inglewood, California.  VOC provided financing to support WOW’s existing digital assets and the first phase of a major development that includes 30 new full motion digital kiosks known as the EON Network.  WOW is doing exciting work and continuing to invest in its market. We love being able to champion that kind of client growth, not just by financing a transaction, but by helping operators keep moving toward what they’re building next.

Yes we are.  Verde Outdoor Capital is undergoing a brand refresh as the company signals its next era of growth. You’ll see the new logo here, with the full branding and updated website to be announced soon.