Dallas-based Stream Realty Partners has closed a $67 million bridge loan with A10 Capital to fund the acquisition and lease-up of a 12-property portfolio consisting of retail, industrial and office buildings in the metropolitan Atlanta area. 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. Gregg Shapiro, Director at HFF, arranged the financing; the seller identities or a complete purchase amount were not disclosed.
"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," added 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."
The 12 properties, which include a retail shopping center at 3201 South Cobb Drive and an industrial warehouse at 3380 Florence Road, were 56% leased at the time of sale.
For more news and information visit Blumberg Partners.
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