Regency Capital Partners

Parmer Business Park


Parmer Business Park

Summary

Regency Capital Partners (“RCP”) arranged acquisition financing for this 257,000 square foot, Class A, office campus in Austin, Texas. With a single tenant, Sun Microsystems, whose lease expired 3-years into the loan term, and 46% of Sun’s space being subleased, RCP was tasked to procure a 5-year, fixed rate, non-recourse loan with limited structure and 3-years of interest-only payments. Despite the aggressive request, RCP was able to attain a 78% of cost loan to acquire the asset with all of the client’s requirements, at an interest rate that far exceeded their expectations, creating a significantly improved return for this institutional fund manager.


Transaction Details

LOAN AMOUNT $38,500,000
FINANCING TYPE Permanent
LENDER TYPE CMBS Lender
PROPERTY TYPE Office
PROPERTY ADDRESS
Map
West Parmer Lane & Riata Vista Circle
Austin, TX
PROPERTY DESCRIPTION A 257,000 square foot, Class A office campus in Austin, Texas.