$7,900,000
Los Angeles, CA
Transaction Type
Loan Modification
Non-Recourse
Loan Type
Bridge Loan
Situation & Challenges
- 100% occupied by single tenant at closing
- Sponsor accelerated business plan and executed more value than originally underwritten
- Sponsor requested additional loan proceeds to capitalize on extra value-creation
Solutions & Highlights
- Sponsor was a repeat borrower of A10 and had extensive knowledge of the area
- Property was in an extremely strong demographic profile and high traffic area
- Original loan amount was $5.5MM; Loan was up-sized post-closing by $2.4MM
- 3-year term plus extensions