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Situation/Challenges

  • The majority of the existing tenancy rolls over the next 5 years
  • Interest only bridge loan to recapitalize and provide cash out
  • Property is located in an area dominated by bulk industrial buildings with limited demand for flex space
  • Building has higher level of office finish ~80%, which is more than you would generally see in a normal Flex asset.

Solutions/Highlights

  • Four-Year bridge loan, full term IO.
  • Sponsor has owned the asset for 12 years
  • Sponsor has a very strong balance sheet
  • Sponsor has demonstrated responsible ownership
  • Sponsor preferred to self-fund lease up costs