Three-Year Recap Effort Saves Center

PLEASANTON, CA—Three years ago, almost all of the tenant leases at the Britannia Business Center were scheduled to expire within 24 months and the loan was maturing at the same time. The tenant in common (TIC) investors did not have a business plan or enough equity in the property to refinance through conventional channels. To address the looming deadline, Clear Vista Management was hired to manage and restructure the investment, and Versant Commercial Brokerage Inc. stepped in to raise capital. That three year effort paid off, with the Britannia Business Center now successfully recapitalized.

“We appreciate the years of effort that Clear Vista and Versant put into saving this property,” said Dale Shoup, investor steering committee member.  “Without their vision and diligence the investors would have lost this property to foreclosure.  We are happy to continue to own such a quality asset in one of the most dynamic markets in the country.”