Morrisville, NC $34,000,000 ~243,000 Sq. Ft. Office Acquisition & Adaptive reuse

Knighthead provided a $34mm first mortgage acquisition and adaptive re-use construction loan for the conversion of a former outlet mall to a Class A ~243,950 Sq. Ft. office space. The loan was underwritten at ~64% of cost and ~48% of as-stabilized value.