“Both properties are value-add assets in desirable suburban locations."
Boise, ID (PRWEB) September 13, 2013
A10 Capital, a full service nationwide lending business specializing in small to middle market commercial real estate loans, announced today that it closed two non-recourse bridge loans in the Southern Florida area: a $15.6 million DPO with future TI/LC facility secured by a mixed-use retail center and a $6.4 million acquisition loan with TI/LC, Cap-Ex and Rollover facilities secured by a class A office building.
Both loans also include future facilities for tenant improvement and leasing commissions that will assist in getting the properties fully stabilized. Both transactions were structured on a non-recourse basis.
“These loans illustrate perfectly the ideal commercial real estate financing criteria for A10 Capital,” says A10’s Business Development Officer, Steve Zorich, who structured and closed both loans. “Both properties are value-add assets in desirable suburban locations. Each transaction has strong sponsors with a wealth of experience and sound financial foundations.”
“As the market occupancy rates continue to strengthen, we expect to see a greater concentration of commercial mortgage activity in this region.” adds Zorich. “It’s an ideal market for a value-add investor and A10 Capital.”
About A10 Capital
Founded in 2007, A10 Capital specializes in small to middle market commercial mortgage loans on a nationwide basis. Our core product, a mini-perm loan, features an intermediate term of 3-5 years that is often used to finance properties not yet in a position to obtain longer-term, permanent financing. A10 Capital is a full service lending platform, including origination, underwriting, closing, and servicing. The firm has its primary headquarters located in Boise, Idaho, with secondary headquarters located in Dallas, Texas. In addition, A10 has regional production offices located in Atlanta, Newport Beach, New Jersey, Philadelphia, and San Francisco.