![$35,000,000 | Chicago, IL building](https://a10capital.imgix.net/transactions/35_mil_wacker.jpg?auto=format&w=636)
$35,000,000
Chicago, IL
Transaction Type
Acquisition Refinance
Non-Recourse
Loan Type
Permanent Loan
Situation & Challenges
- Property was acquired by a prominent family office, a long-term real estate holder that wanted to work with a lender that would retain servicing
- Loan closed in the midst of significant volatility in credit markets
- Despite being only 80% occupied at application, Sponsor sought maximum proceeds and a long-term, fixed-rate loan
Solutions & Highlights
- A10 utilized a creative structure to provide the Borrower higher proceeds based on expected future leasing
- A10 to service the loan in-house for the life of the loan
- 10-year loan term