Why we like this deal?
Significant potential for this 200,000 sq. ft., 4 story class A commercial office building; includes 100,000 sq. ft. data center.
The project is directed by an experienced team which has executed IT services spaces prior. Their JV partner is a $3.0 billion public company.
The loan to value (LTV) provides a 44.3% cushion of equity.
Additionally, the rental income is $13,850,000 annually and is 4.32 times the debt service coverage ratio (DSCR). This opportunity presents an investor with a commercial note at 15% for 3 years, secured by a recorded first mortgage lien or deed of trust on this property.
Why the bank can’t lend
|Loan Term:||3 years|
|Source of Income:||Projected 2018|