Joint Venture Equity: $4,916,250
Knightsbridge arranged non-recourse bridge debt financing and joint venture equity for the acquisition of a 121,143 square foot, 2-story office building in Brea California.
Senior Bridge Loan: $9,425,000
Knightsbridge overcame the following challenges:
- The property was 50% occupied in a market where economic fundamentals were just starting to show improvement.
- The owner was in default and the property had been placed into receivership.
- Limited comparable sales and market leasing activity.
- Identified non-recourse financing.