|Property:||Emerald Lake Corporate Centre|
|Description:||Three story, Class A office building totaling 83,396 square feet located at the northwest entrance to Carlsbad Research Center, the most prestigious business park in Carlsbad.|
|Loan Type:||Bridge Refinance Loan|
- Senior secured loan effectuated a recapitalization.
- 3-year loan with an extension option to maximize time to execute the business plan
- Interest only payments during initial term to enhance cash flow to the ownership
- Non-recourse loan to eliminate contingent liability risk on sponsor