Preferred Equity

Met Center 15

Met Center 15
Austin, TX
257,600 SF of Office Space

Principals of Schelin Uldricks & Co. recapitalized a two-tenant office building leased to Progressive Insurance and Waste Management in Austin, TX. The transaction included a rollup of a tenant-in-common ownership structure, a new guarantor and sponsor, and ongoing structural & foundation remediation. The financing was closed in just 3 weeks in an all-cash transaction. The property was later refinanced to pull cash out for stabilization.