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  • Consists of a multi-tenant office building and an industrial/R&D building
  • Office building is 75% occupied
  • Industrial building is 100% vacant
  • Buildings were foreclosed upon and became REO last year
  • Significant future cap-ex and TI/LC facilities needed to complete build-out of the vacant building and facilitate future lease-up of both
  • Structured over $3 million future cap-ex, rollover and TI/LC facilities
  • Numerous prospective tenants have toured and shown interest in the vacant building
  • Property is in a centrally located office and industrial submarket with little available land for development in the immediate surrounding area
  • Non-recourse
  • Fixed-rate bridge loan with a 3-year term plus extensions