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$10,000,000 | San Francisco, CA building

San Francisco, CA

Transaction Type

Cash-out Loan Refinance


Loan Type

Permanent Loan

Situation & Challenges

  • Studio and one-bedroom floor plans only
  • A Housing Assistance Program (HAP) contract from the Department of Housing and Urban Development (HUD) subsized these residential units, which had a 62+ age restriction
  • CapEx improvements were necessary during the loan term

Solutions & Highlights

  • A10 structured a creative CapEx reserve for repairs and modernization of the building
  • A Housing Assistance Payments (HAP) contract was renewed for a 20-year term, ensuring income stability beyond the loan term
  • 7-year term, 30-year amortization schedule