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Situation/Challenges

  • Acquisition financing with tight closing time-line;
  • 100% vacant office building;
  • Limited historical operating data due to unsophisticated owner / seller;

Solutions/Highlights
  • A10 closed the loan within tight time period prescribed per the PSA;
  • Borrower was able to secure a lease for the parking garages with a National operator prior to close, lessening risk associated with a 100% vacant building;
  • 100% of Borrower's equity was contributed at closing allowing A10's future funding facilities to address budgeted CapEx and Good News TI/LC's