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$25,900,000 | Portfolio: NJ & MA building

Portfolio: NJ & MA

Transaction Type

Bridge Refinance


Loan Type

Bridge Loan

Situation & Challenges

  • Existing CMBS and Mezzanine loans were in maturity default
  • Multi-state collateral pool
  • One of the portfolio’s properties was a commercial condominium located in a submarket that struggled in previous years
  • Largest tenant was expected to vacate during loan term
  • Loan needed to close by year-end

Solutions & Highlights

  • Experienced, repeat A10 Borrower owned multiple properties in the market
  • Provided a fixed rate bridge loan to refinance both the CMBS and Mezzanine loans
  • Loan structured to allow for the release of individual properties
  • Upfront reserves collected for tenants improvements/leasing commissions (TI/LC), rollover, and CapEx
  • A10 met the year-end close date
  • 2-year loan term; 1+1 extension options