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Situation/Challenges

  • Dramatic Recent Occupancy Reduction
  • Limited Borrower Liquidity
  • Centralized Heating/Cooling System Failure
  • High leverage relative to recent acquisition price

Solutions/Highlights

  • 100% Cap Ex Facility
  • Three-month interest reserve
  • Interest only for the first three years
  • Five-year fixed rate bridge term with flexible prepay
  • Personally guaranteed with additional collateral pledged as credit enhancement