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Building

Transaction Details

San Diego, CA property
San Diego, CA property

Single Tenant Flex

$4,100,000

San Diego, CA

Single Tenant Flex

  • Project Type: Single Tenant Flex
  • LTV: 40%
  • LTC: 40%
  • Rate: 6% w/ 5 Year Fix
  • Term: 10 Years
  • Guaranty: Recourse

Transaction Overview

Max Benjamin Partners successfully arranged a 10-year fixed-rate refinance for a single-tenant flex property, securing an exceptionally low leverage structure at 40% LTV and 6.00% interest. The sponsor sought a capital partner capable of closing without requiring a lease extension — a key point of negotiation, as the tenant’s current term runs through 2027. By identifying a lender confident in the underlying asset quality and tenancy, MBP delivered both flexibility and certainty in a challenging credit environment.

The financing featured a creative structure that balanced security for the bank with liquidity for the borrower. A $400K deposit was held by the lender, to be released upon lease renewal or re-tenanting, effectively mitigating rollover risk while allowing a $550K cash-out at closing. Full recourse terms were offset by a highly competitive rate, stepdown prepay flexibility, and a 10-year runway providing stability and optionality for the sponsor’s long-term strategy.

This transaction underscores MBP’s ability to navigate nuanced tenant situations and align sponsor goals with lender requirements, securing favorable terms even when conventional credit parameters might have delayed or derailed a closing.

MBP specializes in debt and equity placement for all asset classes. Our extensive network of unique capital sources in development and permanent financing and extensive capital markets knowledge allows us to tackle a wide variety of transactions, regardless of complexity or size, to benefit our clients.

MBP has a team of dedicated and experienced finance professionals with you at every step. We are consistently improving and expanding our capital market relationships and are committed to exceeding our client's expectations through these relationships, innovative solutions, and outstanding work ethic.

Intermediaries Team

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