LADERA RANCH, CA – May 23, 2017 – G8 Capital (g8cap.com) announced today that it has recently closed on a new $34.5 million CMBS loan for the Alexandria Corporate Park in Alexandria, VA.
In December 2013, G8 Capital acquired non-performing first and second loans from a regional bank secured by a 271,000 square feet office flex/industrial property in Alexandria Virginia. After the borrower failed to perform, G8 eventually completed a foreclosure on the property in December 2015.
Throughout the process, G8 Capital was able to dramatically increase the assets value by securing a new 10-year GSA lease, including an approximately 60,000 square foot expansion. In addition, two new tenants were added for an additional 75,000 square feet, and bringing the total occupancy to 100%.
“G8 identified a tremendous opportunity to revive a troubled asset” said Evan Gentry, president and CEO of G8 Capital. “After much hard work by our team, we were able to stable the occupancy with top tier tenants. As we determined that this was an ideal asset to hold longer-term, we recapitalize the asset by securing a CMBS loan with favorable term.”
CB Richard Ellis (CBRE) represented G8 Capital in the loan transaction and Benefit Street Partners provided the financing.
G8 Capital has managed more than 65 portfolio acquisitions, representing more than $800 million in residential/commercial loans and REO properties, primarily from large U.S. banks, regional banks and government agencies. G8 Capital’s management team has collectively managed more than $10 billion in real estate-related transactions spanning several decades.
G8 Capital makes careful risk-adjusted investments, preserving the interest of investors, while striving to create significant capital appreciation through the careful restructuring, repositioning, intensive servicing and management of both residential and commercial assets.
For more information about G8 Capital, visit www.g8cap.com .
About G8 Capital G8 Capital ( www.g8cap.com ) is a prudent and disciplined investment firm focused on opportunity-based acquisitions of both residential and commercial real estate assets. G8 Capital acquires real estate and loan portfolios from financial institutions, government agencies and other sellers that are looking to get fair value and timely execution. Visit g8cap.com for more information.