A10 Capital Funds $7.4 Million Bridge Loan for Tampa, Florida Retail Center

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Non-recourse bridge lender provides acquisition loan to Leon Capital Group, a CRE investment and management firm specializing in asset acquisition and redevelopment.

Tampa Commercial Real Estate Bridge Loan

The vacant big box space will be redeveloped by Leon Capital Group

With A10’s help we were able to close on this property 30 days after contract execution.

A10 Capital, a full service nationwide lending business specializing in small to middle market commercial real estate loans announced today that it has funded a non-recourse bridge loan for the acquisition of a retail center located in central Florida. The commercial mortgage is secured by a class B retail shopping center and provided approximately 55% leverage.

Chuck Taylor, Principal and EVP at A10 Capital, who structured and closed the loan, said, “We recognized immediately the sponsor had a solid business plan to renovate and redevelop this former big box retail center. Therefore, we were able to get comfortable quickly and work with Walker & Dunlop to structure a facility that satisfied all requirements for the client on this acquisition.”

Tampa-based vice presidents, Livingston Hessam and Jeremy Pino, led the Walker & Dunlop team. Mr. Hessam commented, “This transaction is a perfect example of a lender buying into an excellent location with a strong and experienced sponsor, Leon Capital Group. We look forward to seeing this property redeveloped and providing long-term financing upon completion.

Jared Moon, Vice President with Leon Capital Group stated, “This property is one of the few remaining vacant boxes in north Pinellas County, the amount of activity and demand on this site forced us to be extremely aggressive with our terms in order for us to get this deal. With A10’s help we were able to close on this property 30 days after contract execution.” Moon says they are currently negotiating with multiple users to backfill the existing box as well as the 2 outparcels.

The bridge loan was structured on a non-recourse basis and proceeds were used to fund the acquisition of the property as well as provide committed funds for future capital expenditure and TI/LC facilities.

About A10 Capital

Value-add real estate investors rely on A10 Capital to provide non-recourse financing on un-stabilized and distressed commercial properties across the United States. A10 Capital features flexibility, certainty and fast loan closings, and our satisfied clients have made A10 the most active lender in the small- to mid-market bridge loan space ($1 million to $20 million). A10's platform incorporates focused origination, speedy underwriting and legal review, competitive pricing and terms, and in-house servicing for the life of the loan. An innovator in the industry with a scalable funding model, A10 is backed by the $15 billion global private equity firm H.I.G. Capital, a Fortune 500 insurance company and an affiliate of an institutional investor with $20 billion of equity capital. We are based in Boise and Dallas and have regional offices in Annapolis, Atlanta, Cleveland, Kansas City, Newport Beach, New Jersey, New York, Philadelphia, and San Francisco. For more information, please visit us at http://www.a10capital.com.

About Walker & Dunlop

Walker & Dunlop, headquartered in Bethesda, MD, is one of the premier commercial real estate finance companies in the nation. The firm’s scaled lending platform provides customers with a comprehensive suite of financing solutions for multifamily and commercial properties located across the United States. Walker & Dunlop has more than 450 professionals with an unyielding commitment to client satisfaction located in 22 offices nationwide. For more information, please visit http://www.walkerdunlop.com.

About Leon Capital Group

Leon Capital Group acquires and develops real estate on behalf of family offices and institutional investors seeking superior risk adjusted returns in a diversified real estate investment portfolio. The company has made over 130 investments in the five years following the financial crisis. Leon Capital and its affiliates oversee assets with a total capitalization of over $2 billion. Our investment disciplines encompass four principal lines: (i) bridge lending, (ii) multi-family value-add acquisition and new development, (iii) retail net lease and shopping center acquisition and development, and (iv) special situations including land, distressed debt, Joint Venture Equity and recapitalizations.

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Laura Penney
A10 Capital
+1 (208) 577-5002
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Chuck Taylor
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