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Situation/Challenges
  • Class B distribution warehouse
  • Refinance of an existing life company loan
  • Within first year of loan term, property will be 50% occupied by a single tenant with less than 2 years remaining on the lease term
  • Current and prospective tenants are heavily tied to the automotive industry
  • Future facilities needed for Cap-Ex and TI/LC to conduct indentified repairs/improvementsand lease up the property to stability
Solutions/Highlights
  • Structured over $1 million in future facilities
  • One of the tenants has two options to renew their lease for an additional 7 years
  • Property can be used as either distribution or light manufacturing as needed
  • Non-recourse
  • 5-year term with extensions