SAN FRANCISCO-A10 Capital, says it has funded a $16.4 million non-recourse bridge loan to facilitate the acquisition of two industrial/flex buildings in the San Francisco metro area.
The commercial mortgage is secured by two class B industrial R & D/Flex buildings and provided approximately 65% leverage. The proceeds were used to fund the acquisition of the buildings as well as committed funds to facilitate capital expenditures and the future lease up of the property.
“The sponsor is an experienced CRE investment firm that focuses on properties in need of physical upgrades and/or re-tenanting,” said John Neff, principal and EVP of A10 Capital, who structured and closed the loan. “They needed a lender willing to work with them on both industrial and office uses with occupancy issues and in need of significant capital improvements. Since this property is located in a prime business park location with many prominent national tenants, A10 was able to structure a facility that met the requirements of the borrower.”
The loan was placed with A10 Capital by Terry Daly of Cassidy Turley.
A10 Capital is a full-service nationwide lending business specializing in small to middle market commercial real estate loans. The firm has its primary headquarters located in Boise, ID, with secondary headquarters located in Dallas.
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