FEATURED TRANSACTIONS

$116 Million Recapitalization

Client Request

CMBS financing to retire the existing debt on a six-building, 611,248-square-foot office portfolio in Las Vegas, NV and buy out the existing investors

Situation/Challenges

• The portfolio is concentrated in the southwestern Las Vegas market and is 97% leased, with the majority to large national tenants with strong credit and balance sheets
• Find a solution to help the sponsor achieve their ultimate goal of owning the assets outright over the long term

Solution

Dekel Capital looked at several strategies, but decided that recapitalizing the Portfolio with a single loan would result in more aggressive debt terms from lenders