A10 Capital Lends $67M for Atlanta Portfolio Purchase
Danielle Balbi Nov. 11, 2015, 4:10 p.m.
A10 Capital, a national middle-market lender, provided Dallas-based Stream Realty Partners with a $67 million bridge loan on a portfolio of 12 commercial properties in Atlanta.
Proceeds from the non-recourse bridge loan will be used to fund the acquisition, renovation and lease-up of the retail, industrial and office buildings. The loan carries a term of five years at a fixed interest rate, according to the lender.
The 12 properties, which include a retail shopping center at 3201 South Cobb Drive and an industrial warehouse at 3380 Florence Road, are 56 percent leased.
“We have developed a specialty in financing large portfolios comprised of middle-market commercial properties,” A10 Chief Executive Officer Jerry Dunn said in prepared remarks. “This loan highlights the strength and flexibility of our lending platform.”
Stream Realty develops, operates and leases commercial properties around the country, and closes roughly $2.4 billion in transactions annually, according to the sponsor’s website.
“We owe special thanks to our lender, A10 Capital,” said Ben Hautt, co-managing partner of Stream Realty Partners’ Atlanta office. “As hectic as it was in those early morning hours before close, it was great to see them working just as hard as us. They really treated this portfolio as if they were true partners with us.”