- The majority of the existing tenancy rolls over the next 5 years
- Interest only bridge loan to recapitalize and provide cash out
- Property is located in an area dominated by bulk industrial buildings with limited demand for flex space
- Building has higher level of office finish ~80%, which is more than you would generally see in a normal Flex asset.
- Four-Year bridge loan, full term IO.
- Sponsor has owned the asset for 12 years
- Sponsor has a very strong balance sheet
- Sponsor has demonstrated responsible ownership
- Sponsor preferred to self-fund lease up costs