Structured and arranged a high-leverage bridge loan to acquire and renovate a 160,000-square-foot data center.
Challenges
The real estate component was only a portion of the total project budget. The borrower plans to reposition the industrial property to accommodate multiple modular units with the most advanced data center software and cooling technology. Though there was some pre-leasing in place, most leasing would occur upon completion. Bridge loans at the requested leverage point are uncommon, especially for relatively new, venture-backed companies.
