Gallery Image #1 Gallery Image #2 Gallery Image #3
Situation/Challenges
  • Acquired by a prominent family office, a long-term real estate holder
  • Sponsor wanted to work with lender who would retain servicing
  • Loan was closed in the midst of significant volatility in credit markets
  • Despite being only 80% occupied at application, sponsor was seeking max proceeds and a long-term, fixed-rate loan
  • Extensive renovations completed in 2014
  • Significant rent abatements expiring over next few years
Solutions/Highlights
  • Offered 10, 15, and 20 year terms
  • A10 closed the loan on terms that were agreed to before the current market volatility set in
  • A10 utilized a creative structure to provide the borrower higher proceeds based on expected future leasing
  • Non-recourse
  • Sponsor ultimately selected a 10-year term
  • Loan will remain on A10's balance sheet and serviced in-house