Case Study: $40MM Entertainment Retail Property | Refinance | Myrtle Beach, SC

Structured and arranged a bridge loan to refinance a newly built 42,000-square-foot oceanfront retail entertainment complex in Myrtle Beach, S.C.

Challenges

The client was seeking to repatriate capital while retiring its current construction loan upon obtaining a certificate of occupancy. The asset was not yet fully leased, and a significant portion of the underwritten cash flow was attributed to future parking income.

Solutions

Identified a lender willing to provide an immediate cash-out option and future earn-out mechanics as the property operations continued to improve. In addition, a master-lease was structured to buttress potential volatility in the underwritten parking income.