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$20,400,000 | Ocala, FL building

Ocala, FL

Transaction Type



Loan Type

Bridge Loan

Situation & Challenges

  • 70% occupied at closing
  • Co-tenancy clauses and occupancy thresholds limited the value of the property until the tenants cleared the thresholds and were paying their full contract rent
  • Significant tenant improvement/leasing commission (TI/LC) facilities needed to facilitate lease-up to stabilize the property

Solutions & Highlights

  • Structured over $5.4 million in TI/LC and rollover facilities to support business plan
  • Borrower delivered a significant tenant-in-tow and was aggressively pursuing additional tenants at closing
  • Center was shadow anchored by a major national department store with above-average sales
  • 4-year term plus extensions