Mezzanine Forgiveness/Senior Reduction
Property Type: Office
Property Size: 141,955 sq. ft.
Origination: Jun 2006
Current Loan Balance: $15,807,765
Occupancy: 82.44 %
Debt Service Coverage Ratio: .78 as of 2013
Office property located in a struggling slow recovery market in Nevada. Senior and Mezzanine debt present obstacles for workout.
Debt forgiveness of Mezzanine and reduction of senior debt of $4.6MM