Structured and arranged a combination of long-term, fixed-rate senior debt and joint venture equity to capitalize the acquisition and repositioning of a 157,000-square-foot shopping center in Lake Charles, Louisiana.
Challenges
The sponsor had a short timeframe to close while dealing with title issues caused by several non-consolidated ground leases. Additionally, with a Walmart opening nearby, the anchor tenant’s lease expiration during the loan term made lenders weary of potentially prolonged vacancy and rollover costs.
