$39,475,000
Bridge Loan

East_Bay_R&D_FIXED2 (1)

Recapitalization
East Bay R&D Campus
East Bay Area, CA
300,000 SF of Office/R&D Space

Principals of Schelin Uldricks & Co. recapitalized and restructured a legacy Tenant-in-Common transaction with a $39.475MM non-recourse bridge loan along with institutional preferred equity. The transaction included a rollup of the TIC structure, a new sponsor & guarantor, and plans to lease up approximately 30% of vacant space. The property included credit tenancy, but a concentrated lease expiration schedule in a recovering market.

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