Transactions

Knighthead acquired a $32.9mm senior participation interest (A-Note) in a $47mm First Mortgage loan.  The loan is secured by ~15.5 acres of land containing ~274,945 SF of retail and subject to 2 NNN ground leases located in Santa Barbara, CA. The senior participation was underwritten to an ~35% “As-is” Value.

Knighthead provided a $43.65mm senior participation (A-Note) interest secured by a newly constructed ~1.04mm SF industrial facility located in Adairsville, GA.  The property is currently nearing completion and is ~71% complete. Our senior participation loan was underwritten to ~40% “As-Stabilized” value.

Knighthead provided an $8mm first mortgage refinance loan secured by a newly constructed 28-unit multifamily building located in La Mirada, CA. The loan was underwritten to an ~62% “As-Is” Value.

Knighthead provided a $14,500,000 first mortgage refinance loan secured by a newly-completed 54-unit multifamily building located in Los Angeles, CA. The loan was underwritten to ~58% “As-Stabilized” value.

Knighthead provided a $28,850,000 first mortgage refinance loan secured by ~343,000 SF, 22-story, Class A office building located in Pittsburgh, PA. The loan was underwritten to ~50% “As-Stabilized” value.

Knighthead provided a $24,100,000 first mortgage refinance loan secured by a recently constructed 161 Unit, 55+ age-restricted multifamily building located in Germantown, TN. The loan was underwritten to ~64% “As-Is” value.

Knighthead provided a $75,000,000 first mortgage construction loan to construct a 4-story, mixed-use condominium property containing a total of 182 units. The loan was underwritten to an ~65% net sellout value.

Knighthead provided a $31,000,000 first mortgage refinance loan secured by ~210,000, 5-story Class A office building located in Union, NJ. The loan was underwritten to an ~56% “As-Stabilized” value.

Knighthead provided a $13,500,000 first mortgage acquisition loan secured by ~1.12 acres with 5 multifamily properties on an entire block in the heart of Coral Gables, FL. The loan was underwritten to an ~68% “As-Is” value. The future plan is to redevelop the property with ~143,488 SF newly constructed building comprised of 68 luxury condominium units, 137 parking spaces, and ~12,701 SF of ground-floor retail.