Oakbend 1 Oakbend 2 Oakbend 3
Situation/Challenges
  • Refinance of an existing bank loan
  • 100% occupied at closing
  • Constructed in 2001
  • Largest tenant occupies approximately 54% of the building with a near-term lease expiration
  • Some long-term cap-ex requirements
Solutions/Highlights
  • Sponsor is experienced local owner/operator and has managed this property as well as other similar properties in the area
  • Largest tenant has been in place for over 10 years and recently installed a backup generator that powers the entire building
  • Creative cap-ex reserve structure
  • Non-recourse
  • 30-year amortization schedule
  • Loan will remain on A10's balance sheet and serviced in-house