Tampa Office Portfolio 1 Tampa Office Portfolio 2 Tampa Office Portfolio 3 Tampa Office Portfolio 4
Situation/Challenges
  • Four Class A office buildings
  • 34% combined occupancy at time of acquisition
  • Leasing activities outpacing sponsor's business plan
  • Significant addition to TI/LC facility needed to fund new tenant build-out
Solutions/Highlights
  • Approximately a year after the loan closed, A10 modified the loan to increase the TI/LC facility by $1.6MM in order to fund borrower's higher than expected lease-up costs
  • Innovative office concept wins local design award
  • Major national tenant signed lease for new national operations center
  • Non-recourse
  • 4-year term plus extensions