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Situation/Challenges

SECURED BY CLASS B MEDICAL OFFICE BUILDING

  • Shorter term leases
  • 76% of NRA rolls in the first 5 years of the loan term
  • Sponsor transitioning from recourse loan to non-recourse
  • Several tenants struggled with COVID issues
Solutions/Highlights
  • 10-year term with 25-year amortization (3-years I/O)
  • Prestigious location in Philadelphia Main Line, between 2 hospitals
  • Repeat A10 Borrower
  • Borrower has long history of successful operations of buildings in the area and has performed well historically of filling vacancies quickly with little or no TI/LC due to relationship with nearby hospitals