$11,400,000 Bridge Loan
156,000 SF Office Park
HRC arranged $11.4 million (75% loan-to-cost) in non-recourse interim financing to process residential entitlements. In the event that the Borrower does not obtain entitlements, the loan allows the flexibility to re-allocate reserved funds to reposition the existing office park. The loan is floating rate over LIBOR and features a declining prepayment structure.