CHARLOTTE, NC—CBRE's Debt & Structured FinanceGroup arranged a $13.35-million bridge loan on behalf ofAdler Kawa Real Estate Advisors for its purchaseof four buildings in the Oak Hill Business Parkhere.

The acquired office properties total 248,487 square feet ofspace. Wells Fargo originated the loan, which isfloating over Libor, at aggressive rates and terms, according toCBRE. A published report in the Charlotte Business Journal statesthe purchase price for the Oak Hill Business Park properties wasapproximately $16.6 million. Adler Kawa Real Estate Advisors is aMiami-based joint venture between Adler Group,Kawa Capital Partners and GanotCapital.

“The bank financing was a low rate, floating over Libor andexceeded the pro forma expectations by several hundred basispoints,” says Vice Chairman Charles J.Foschini of CBRE's Debt & Structured Financegroup. “Banks continue to be aggressive on strong deals with solidsponsorship. The flexibility of a bank loan in this instance notonly allowed for the lowest cost of capital but provided for afluid loan that would work in partnership with the operator tolease up and refinance or sell the properties as opportunitypresented itself later in the market cycle.”