ATLANTA—Working on hehalf of client Stream Realty Partners, Idaho-based A10 Capital, has closed a $67 million bridge loan to fund the acquisition and lease-up of a 12-property portfolio consisting of unstabalized retail, industrial and office buildings in the Atlanta area.
"We have developed a specialty in financing large portfolios comprised of middle-market commercial properties." said A10 Capital CEO, Jerry Dunn. "This loan highlights the strength and flexibility of our lending platform."
"We owe special thanks to our lender, A10 Capital," said Ben Hautt, co-managing partner of Stream Realty Partners' Atlanta office. "As hectic as it was in those early morning hours before close, it was great to see them working just as hard as us. They really treated this portfolio as if they were true partners with us."
Gregg Shapiro, director at HFF, who arranged the financing, added, "A10 Capital did a terrific job with us on a large, complex deal. Throughout the entire process, A10 was professional and proactive in working to meet the borrower's needs and was creative in structuring a loan that fit their requirements. Stream Realty Partners has an incredibly talented team that recognized the opportunity embedded in this portfolio. Their creativity and persistence will put them in a position to achieve superior returns on this investment."
The loan was structured on a non-recourse basis and proceeds were used to fund the acquisition, capital improvement plan, and future lease-up costs of the properties.
A10 Capital is a leading provider of middle-market commercial real estate loans. If offers a broad menu of bridge, perm, bridge-to-perm, and note purchase loans cover the entire life cycle of commercial properties across the United States. A10 is backed by four significant institutions: $4.7 trillion asset management firm BlackRock, the $19 billion global private equity firm H.I.G. Capital and the credit affiliate of Thomas H. Lee Partners. Based in Boise, ID and Dallas, TX, A10 has regional offices in coast to coast.
Founded in Dallas in 1996, Stream Realty Partners now has ten offices nationwide with over 600 employees.
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