Melrose Place 1 Melrose Place 2 Melrose Place 3 Melrose Place 4
Situation/Challenges
  • Original loan amount was $5.5 million
  • 100% occupied by single tenant at closing
  • Sponsor accelerated execution of business plan and executed more value than originally underwritten
  • Sponsor requested additional loan proceeds to capitalize on additional value-creation
Solutions/Highlights
  • Sponsor is a repeat borrower of A10 Capital with extensive knowledge of the area
  • Property is located in an extremely strong demographic profile and high traffic area
  • Modified loan post-closing to up-size by $2.4 million
  • Non-recourse
  • 3-year term plus extensions