A10 Capital Provides $79MM in Bridge and Permanent Funding for Multifamily/Retail Portfolio

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Complex structure funds California and Indiana multifamily and retail properties.

California Class A Multifamily Complex

A10 Capital Funded a Permanent Mortgage on this Multifamily Property

I was impressed that the A10 team worked so cooperatively across all their departments and produced not just one, but two lending solutions that delivered as promised in every respect.

A10 Capital, a leading commercial real estate lender to the U.S. middle market, announced today it has funded loans totaling $79 million for the acquisition of a multifamily/retail portfolio of four properties, three Class B multifamily complexes and one Class B retail center.

Jared Frothinger, Executive Vice President of A10 Capital, who structured and closed the loans, said, “The sponsor is a successful real estate owner. They needed a lender who could handle a complex portfolio and close within a very tight timeframe. Working with JP Real Estate Partners, we got comfortable with the assets quickly and crafted both bridge and permanent solutions which addressed specific property situations and closed simultaneously on the specified date.”

“The borrower had a specific closing date to meet tax year deadlines and the structure was executed concurrently with a complex ESOP corporate transaction,” said Jay Schiesser, Managing Director at JP Real Estate Partners, Inc., who arranged the financing. “I was impressed that the A10 team worked so cooperatively across all their departments and produced not just one, but two lending solutions that delivered as promised in every respect. We were very pleased with the overall execution of these transactions.”

The total financing was made up of two loans, a $40 million bridge loan, and a $39 million permanent mortgage. The bridge loan was structured on a non-recourse basis and proceeds were used to refinance two multifamily properties in California and Indiana and one retail property in Indiana. The bridge loan also provided committed funds for the major redevelopment of the multifamily property in California. The permanent loan was structured on a non-recourse basis with a 10 year term and proceeds were used to fund the refinance of an institutional quality multifamily property in Southern California.

About A10 Capital

Commercial real estate investors rely on A10 Capital as their one-stop balance sheet lender for middle-market commercial mortgages. With loans ranging from $1 million to $20 million per property, our broad menu of bridge, perm, bridge-to-perm, and note purchase loans cover the entire life cycle of commercial properties across the United States. Our full service platform incorporates focused origination, speedy underwriting, in-house legal and servicing for the life of the loan. An innovator in the industry with a scalable funding model, A10 is backed by four significant institutions: $4.7 trillion asset management firm BlackRock, $98 billion global investment firm KKR, the $19 billion global private equity firm H.I.G. Capital, and THL Credit, the credit affiliate of Thomas H. Lee Partners. We are based in Boise, Idaho and Irving, Texas and have regional offices in key markets nationwide. For more information, please visit us at http://www.a10capital.com.

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Laura Penney
A10 Capital
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