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$33,000,000 | San Diego, CA building

San Diego, CA

Transaction Type

Loan Refinance


Loan Type

Permanent Loan

Situation & Challenges

  • Refinance of an existing bank loan
  • 19-story, Class A office property
  • Stabilized occupancy at closing
  • Potential concentrated roll risk during the loan term based on lease expirations and termination options

Solutions & Highlights

  • Structured creative rollover reserve
  • Building was the only office tower in the immediate neighborhood
  • Sponsor was a fully integrated real estate platform that had invested and managed high-quality commercial office properties throughout the U.S.
  • 10-year loan term with extended interest only (I/O) period, followed by a 30-year amortization schedule