$88,695,000
Denver, CO
Transaction Type
Recapitalization
Non-Recourse
Loan Type
Bridge Loan
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 spaces, and improve retail spaces to complement new merchandising plan for the area
- Simple fee and leasehold interests
Solutions & Highlights
- Unfunded capital commitments from A10 to be used for redevelopment and lease-up
- Institutional Sponsorship with best-in-class management, national tenant relationships, and extensive experience, executing value-add business plans with historic properties
- 4-year term with extensions, giving ample runway for Borrower to execute business plan