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$24,000,000 | Milpitas, CA building

Milpitas, CA

Transaction Type

Loan Refinance


Loan Type

Bridge Loan

Situation & Challenges

  • Class B industrial office/manufacturing building
  • Refinance of an existing bridge loan
  • Building was 100% vacant for three (3) years
  • Binary risk - high likelihood that a single tenant would lease the building.
  • Significant tenant improvements/leasing commission (TI/LC) facilities required to lease-up and stabilize the property

Solutions & Highlights

  • Structured over $5 million TI/LC facilities
  • Sponsor completed make-ready improvements to modernize space for future marketing and leasing
  • 5-year term with extensions