Joint Venture Equity: $11,700,000
445,316 Sq. Ft. Flex/Office Portfolio
Fixed Rate Debt: $51,100,000
Knightsbridge structured the above financing for the acquisition of a six building flex/office portfolio. Noteworthy aspects of the assignment included:
Noteworthy aspects of the transaction include:
- Just prior to closing, Knightsbridge was able to insert two additional buildings into the portfolio, providing increased diversification for both the client and investor.
- Due to the break-up strategy associated with the portfolio, Knightsbridge negotiated aggressive release pricing of the assets, allowing significant equity to “leak” into the partnership early in the hold period.
- Knightsbridge identified an investor to provide both the debt and the equity for the transaction.