120,483 SF Office Building
San Diego, CA
Highland secured a $21.2 million non-recourse permanent loan (75% LTV), with a 10 year term and 30-year amortization. Since the borrower was structured as a TIC, the lender only assigned recourse liability for the carve-outs to the corporate entity instead of the investors personally. The property consists of one three-story building, containing approximately 120,483 rentable SF and a four-story 160,000 SF parking structure situated on 5.32 acres. The building was built in 2001.