A10 Capital Funds Acquisition of a Three-Building Office Complex in Colorado Springs, CO
Boise, Idaho (PRWEB) February 12, 2015 -- A10 Capital, a full service nationwide lending business specializing in small to middle market commercial real estate loans announced that it has funded a $13 million bridge loan for the acquisition of a three-building office property located in Colorado Springs, Colorado. The commercial mortgage is secured by the class A property at approximately 65% leverage.
Michael Singh, Principal and EVP at A10 Capital, stated, “Having worked with Mr. Younan and his team before, we were able to quickly formulate a customized financing solution that not only met auction timing constraints, but also addressed Younan Properties’ specific investment needs as well as the project’s future capital requirements.”
Zaya S. Younan, Chairman & CEO of Younan Properties said, “This was our first closed financing transaction with A10 Capital. The staff at A10 was thorough, professional and timely. They underwrote the transaction quickly and offered us a term sheet that met our requirements. They remained flexible throughout the process even as last minute changes were required. This was a large, complex transaction with multiple buildings and they performed as promised and closed on time. We definitely look forward doing more transactions with A10 Capital.”
Alisha Hill, SVP and Auction Specialist at A10 Capital also noted, “Our extensive experience in financing auction transactions is instrumental in guiding investors through the time constraints of the auction platform. The preferred lending partnership between A10 Capital and Auction.com creates a competitive advantage for dynamic companies like Younan Properties.”
The transaction was structured on a non-recourse basis and proceeds of the loan were used to fund the acquisition of the property as well as committed funds for a future TI/LC facility.
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 four significant institutions: $4.3 trillion asset manager BlackRock, the $17 billion global private equity firm H.I.G. Capital, a Fortune 500 insurance company, and the credit affiliate of Thomas H. Lee Partners. 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.
Laura Penney, A10 Capital, http://www.a10capital.com, +1 (208) 577-5002, [email protected]
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