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Situation/Challenges
  • 26 historical buildings, most of which are 130+ years old.
  • High concentration of retail/restaurant properties.
  • Significant capital required to cure deferred maintenance, upgrade office space and improve retail spaces to complement new merchandising plan for the area
  • Fee simple and leasehold interests
Solutions/Highlights
  • 4-year term with extensions giving ample runway for borrower to execute business plan
  • Unfunded capital commitments from A10 Capital to be used for redevelopment and lease-up
  • Institutional Sponsorship with best-in-class management, national tenant relationships, and significant experience executing value add business plans with historic properties