$17,000,000
Portfolio: Phoenix, AZ
Transaction Type
Loan Refinance
Non-Recourse
Loan Type
Permanent Loan
Situation & Challenges
- Borrower sought permanent loan despite portfolio occupancy only being at 74%
- Borrowing entity comprised of numerous tenants in common (TIC)
Solutions & Highlights
- Experienced Sponsorship
- Upfront reserves in lieu of ongoing reserves