Posts by Schelin Uldricks & Co.

Acquisition91st & McDowellTolleson, AZ21 Acres of Land Principals of Schelin Uldricks & Co. arranged non-recourse land acquisition financing for a 21-acre parcel of unentitled land adjacent to the I-10 Freeway west of Phoenix. The business plan was to entitle the site for multiple commercial uses and sell off the entitled pads to builders. Preliminary plans…

RecapitalizationSonoma County RetailSonoma County, CA36,000 SF of Retail Space Principals of Schelin Uldricks & Co. arranged a cash out 3-year loan for a retail property along highway 12 in Sonoma County, CA. The property was leased and stabilized at close.

RecapitalizationEast Bay R&D CampusEast Bay Area, CA300,000 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…

Recapitalization & DevelopmentWest Covina Self StorageWest Covina, CA60,000 SF of Storage Space Principals of Schelin Uldricks & Co. arranged construction financing for phase II of an industrial storage/condo project in West Covina, CA. Plans for the site called for 30 units.

Acquisition14th PlaceLos Angeles, CA0.2 acres of Land Principals of Schelin Uldricks & Co. arranged a small balance 80% LTC land acquisition loan priced at 6.5% for a local Los Angeles-based developer. The financing included an interest reserve and enabled the developer to acquire the site and process plans for a 50-unit micro (250-500 sf) efficiency…

RecapitalizationSouth Loop Office PortfolioHouston, TX189,270 SF of Office Space Principals of Schelin Uldricks & Co. secured a 5 year, fixed rate non-recourse loan that was cross collateralized by two adjacent office buildings with “executive suite” type short term leases in Houston, TX. The properties were located in close proximity to Houston’s NRG Stadium.

RecapitalizationThe Oviatt SRO HotelLos Angeles, CA117 Keys Principals of Schelin Uldricks & Co. secured a 5-year cash out bridge loan for an SRO hotel next to Staples Center in downtown Los Angeles. The funding enabled the ownership group to pay back taxes, settle a partnership dispute, and continue the planning process to convert the property…

RecapitalizationMet Center 10Austin, TX345,600 SF of Medical Office Space Principals of Schelin Uldricks & Co. arranged a 10 year non-recourse fixed rate loan on a specialty-use office campus in Austin, TX. The financing recapitalized the property, and also enabled the ownership group to substitute a guarantor, roll up their Tenant-in-Common structure, and complete a foundation…

RecapitalizationBozeman RetailBozeman, MT200,000 SF of Retail Space Principals of Schelin Uldricks & Co. arranged a competitively priced non-recourse bridge loan for a retail center in Bozeman, MT. At the time of close, the property had ongoing environmental remediation in progress and a vacant anchor space.

AcquisitionMammoth RetailMammoth Lakes, CA42,500 of Retail Space Principals of Schelin Uldricks & Co. arranged acquisition financing for a two-story retail center in Mammoth Lakes, CA. The buyer planned to lease up some vacant space on the ground floor and process plans with the city to convert the 2nd story into apartments.