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Situation/Challenges

  • Large construction/renovation budget
  • The post-renovation micro-suites are unique in the marketplace

Solutions/Highlights

  • Well located assets that will be the top of their class post renovation
  • A Letter of Credit was utilized to allow the sponsor to optimize their cash for the overall project
  • The GC completing the renovation is experienced with the asset class
  • The Sponsorship provided a completion guarantee for the renovation