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Situation/Challenges

  • Adaptive reuse project
  • Conversion from dark former big box retail to Class A climate controlled self-storage
  • Vacant Big Box Retail to be converted to Self-Storage
  • Significant interior construction
  • Conservative Projections of 3 – 5 years to stabilization

Solutions/Highlights

  • In-house servicing from a dedicated A10 servicing manager alleviates challenges that may arise during conversion period draw process from other disinterested third-party servicers
  • Strong Borrower / Sponsor agreeable to Structure
  • Five-year term with 2 one-year extension options
  • 5+1+1 loan term allows ample time to convert, lease-up, and stabilize
  • A10 in-house servicing / asset management will handle draw requests, etc. promptly