$65,800,000 Debt & Equity Placement
291,591 SF Office/R&D Campus Recapitalization
Pleasanton, CA
Financing Details:
$47,500,000 Bridge Loan
$13,000,000 Mezzanine Loan
$5,300,000 Preferred Equity Investment
Transaction Overview: The ownership group of Britannia Business Center 1 was seeking to refinance their property in order to source funds to complete tenant improvements and also payoff an existing equity partner. Principals of Schelin Uldricks & Co. identified a non-recourse bridge lender, a mezzanine lender, and a new preferred equity investor that provided flexible financing terms to enable the refinance and tenant buildout. The total new financing package represented nearly 90% of as-is value at a very competitive weighted average cost of capital.