Nebo Capital recently placed a $40,500,000 DIP loan. This loan was provided by a national boutique lending group affiliated with an offshore bank. The facility funded 100% of the cost of paying off the creditors in a commercial real estate asset bankruptcy. The real estate had strong in-place leases but also significant vacancy. In addition, the property was on a ground lease with a relatively short remaining term.
This loan was critical to the borrower and it had to be committed and closed within 3 weeks. Nebo was able to quickly identify a lender having experience with this type of complex and fast-moving deal. A term sheet was signed within days of Nebo taking on the assignment. In addition to the DIP financing the lender provided a commitment for a bridge loan as a take-out.
Please call any of us to discuss any commercial real estate debt or equity needs.