Situation
- 24,737 RSF office building that was 80% leased with 60% of the building rolling within the next 18 months.
- Owners were looking for an exit and did not want to hold onto the building through the next cycle.
- Stream’s knowledge of the market enabled them to know there was demand for buildings that could accommodate users looking to take advantage of SBA Debt (occupy over 50% of the building) while having other tenants within the building pay for the mortgage.
- The current owner was motivated to sell and Stream found a buyer to purchase the building off market at a significant discount to where buildings were trading.