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Situation/Challenges
  • Acquisition financing for two flex industrial buildings
  • 100% occupied by a variety of tech, finance, and industrial users
  • 2nd largest tenant utilizes their space as redundant backup in the event of a disaster to their primary space out of state
  • Sponsors are not local to the area
Solutions/Highlights
  • Repeat A10 Capital borrower
  • Both buildings have recently been renovated by the seller
  • Sponsors will retain local leasing and property manangement firm
  • Provided a last-minute mezzanine loan on top of our permanent first lien financing to fill an equity shortfall prior to close
  • Non-recourse
  • 10-year term