FALLS CHURCH, VA
LOAN AMOUNT
$12,750,000
BRIDGE LENDING
OFFICE SPACE
FALLS CHURCH, VA
THE PROJECT
One of the pioneer real estate investment firms in NYC specializing in buying distressed loans and repositioning assets was seeking bridge financing for a 315,280 sf, 9-story, 40% occupied suburban office as part of an all-cash portfolio acquisition out of a CMBS distress sale to fund accretive CapEx and leasing costs and adjust equity basis.
BORROWER CREDENTIAL
Sponsor is the founding principal of a NYC based commercial real estate investment platform driven by the passion for revitalizing the urban cores of America’s secondary and tertiary cities with a focus on opportunistic and adaptive reuse.
The company identifies value-add and opportunistic real estate that caters to the Millennial workforce and a modern vision of urban America. Since inception in 2014, the Company has acquired $2 billion of real estate totaling approximately 16 million square feet across 49 unique markets.
TRANSACTION KEY TERMS
Closing Date January 2021
Loan Type Value-Add Bridge
Loan Amount $12,750,000
Term 24 Months +One 12 Month Extension Option
Location Falls Church, VA
Property Type Office Space
SITE SIZE 315,280 sq ft
LENDING PROGRAMS
JLJ Capital provides alternative financing solutions for bridge-lending, acquisitions, ground-up construction, short-term refinancing, mezzanine loans, mortgage takeout, partner buyout, preferred equity opportunities, residential fix and flip, and other real estate projects.
