BMO, 3650 Capital Supply $55M Refi for Missouri Office Building

Tryperion Holdings has secured a $55 million loan to refinance a suburban St. Louis office asset in the midst of a leasing recovery, Commercial Observer has learned.

Bank of Montreal (BMO) and 3650 Capital provided the five-year, fixed-rate loan for the 15-story Shaw Park Plaza office building in Clayton, Mo. 

Tryperion, a private equity firm, acquired the 2000-built office complex in July 2021 when it was 59 percent leased. It has since raised occupancy to 97 percent, according to the company.

“I’m proud of the job Tryperion has done in bringing occupancy from 59 percent to 97 percent since acquisition during one of the most challenging periods to operate an office building in recent history,” Jeff Karsh, founder and managing partner at Tryperion, said in a statement. “This refinancing was an important step in enabling us to provide the returns that our investors deserve.”

Walker & Dunlop arranged the debt transaction with a team consisting of Adam Schwartz, Jonathan Schwartz, Aaron Appel, Keith Kurland, Dustin Stolly, Sean Reimer and Michael Ianno.

Beverly Hills-based Tryperion Partners purchased Shaw Park Plaza in 2021 from BentallGreenOak for an undisclosed price with plans to invest $12 million in building upgrades, the St. Louis Business Journal reported.The property was last appraised prior to the sale at $47.2 million, according to the Business Journal. 

Located at 1 North Brentwood Boulevard in central Clayton two miles west of the Washington University campus, Shaw Park Plaza comprises roughly 280,000 square feet of rentable office space that underwent capital improvements since Tryperion’s acquisition. Some of the building’s top tenants include law firm Spencer Fane, wealth management firm Benjamin Edwards, U.S. Bank, RBC and Guggenheim Investments. 

Officials at 3650 Capital and W&D did not immediately return requests for comment. BMO declined to comment.

Andrew Coen can be reached at acoen@commercialobserver.com