Landmark Capital Advisors is pleased to announce the successful recapitalization of a 300,000 square foot office campus in Northern California.
Challenges of the assignment included:
– Heavily concentrated tenant rollover schedule
– Maturing CMBS loan pay-off was nearly 100% of appraised value
– Highly complex capital structure with multiple investor tranches
Landmark Capital crafted a capital structure that provided the preferred equity investor with upside participation, while maintaining an attractive, blended cost-of-capital and long-term ownership control for the sponsorship entity.