With a changing retail market, two of the existing tenants either vacated or were planning to due to downsizing. The borrower, not sitting idle, had a quality incoming tenant in tow and a well-crafted exit plan. With little time to spare due to the quickly approaching maturity of their CMBS loan, SFG put together a bridge loan to refinance the existing CMBS debt and to allocate additional capital for pending improvements. Once tenant improvements are complete and the tenant takes possession, our borrower will be set up for success with a long-term refinance solution.
SFG can design loans to repurpose/re-tenant buildings when the banks won’t budge.
Why we like the deal
- Debt refinance amount was appropriate for the asset.
- clients have a solid plan and history of performance.
- Well crafted Lease with new Tenant.
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