Barrington Office 1 Barrington Office 2 Barrington Office 3
Situation/Challenges
  • Class A Low-Rise Office Building
  • Maturing CMBS loan that was unable to be refinanced by a permanent lender due to property being 58% occupied
  • Parking ratio is low, but building is adjacent to public parking
  • Borrower had large number of investors who could not come to agreement to inject the large amount of equity required for a refinance
  • Located in Chicago, IL metro area
Solutions/Highlights
  • A10 structured a "stretch LTV" to minimize borrower's equity requirements
  • Recently signed new tenant leases and renewals for significant square footage
  • Commuter rail line is located conveniently nearby
  • Non-recourse
  • 3-year term plus extensions