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Situation/Challenges

  • Provide bridge financing for the acquisition of 2 office buildings
  • Located in the Troy submarket which has struggled in recent years
  • Older properties with history of vacancies
  • Recent large vacancy
  • Heavy Value Add Project

Solutions/Highlights

  • Repeat well capitalized sponsor
  • Sponsor has excellent reputation and proved track record in Troy
  • Adequate parking ratio of 4.1/1000
  • Capital improvement plan to increase marketability
  • Excellent Freeway Visibility