Gallery Image #1Gallery Image #2Gallery Image #3Gallery Image #4
  • Recapitalization of a recent all-cash purchase
  • Consists of three office buildings and a parking garage
  • All three buildings are 100% vacant
  • One building has never been occupied and requires completion
  • Original developer was exposed as a fraudulent business and the property turned over to a court-appointed receiver
  • Significant future cap-ex and TI/LC facilities needed to complete renovations, build-outs and facilitate future lease-up of all buildings
  • Structured over $8.4 million future cap-ex and TI/LC facilities
  • Structured creative release provisions to allow for possible sale of one or more of the buildings
  • Borrower is very experienced within the local market
  • The attached parking garage is a unique, positive feature in this submarket
  • Non-recourse
  • Fixed-rate bridge loan with a 3-year term plus extensions