$15,930,000 | Newport National Corporation

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Property: Emerald Lake Corporate Centre
Location: Carlsbad, CA
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
Lender: Debt Fund

Client Benefits:

  • 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