This is a mid-year update like none other. The COVID-19 pandemic forced commercial real estate investors, tenants, owners, and advisors to rethink how space is used and even how businesses are run. In some ways, the pandemic accelerated the pace of the inevitable.
The first half of this year has brought creativity and eagerness from both developers and investors that has created a competitive but wildly successful environment for both.
Below are some of Mandri Capital’s select commercial real estate financing deals to date in 2021. Mandri was fully involved in all aspects of the loan process: underwriting, packaging, wide lender surveys, regular reporting to clients, term sheet negotiations, and all points of the closing process.
1. Music Studios
Mandri used its niche expertise in financing specialty-use creative offices to focus on music producers and content creators. Successful loan closing involved educating lenders on the immense demand and limited supply for this high-rent product. This deal consisted of multiple transactions across greater Los Angeles.
Locations: Burbank, Santa Monica
Capital Source: Private Debt Funds
Loan Types: Bridge Loan / Renovation
2. Gas Stations/Travel Centers
Mandri performed a wide market search to identify a handful of bank lenders that would be candidates for this specialty product. Mandri closed several deals in the region that helped round out niche expertise in gas stations and travel centers for our clients.
Locations: Across Southwest US
Capital Source: Regional Bank
Loan Types: Perm Loans
Loan Size: Various loans totaling over $13M
3. 8-Unit Multifamily Property
Mandri worked with a repeat client to secure a 5-year term with only 4 years of interest to refinance a renovated 8-unit apartment property in West Hollywood, CA. Mandri undertook a full market survey to identify the lowest interest rate and managed all loan process and closing aspects.
Location: West Hollywood, CA
Capital Source: Regional Bank
Loan Type: Perm Loan
Loan Size: $1,900,000
4. Multi-Tenant Industrial Property
Mandri worked with a referral client to identify a bank lender with attractive terms that could meet the exchange deadline required to acquire a 16,000 SF Multi-Tenant industrial property. Loan funds will be allocated to processing a condo map and for property renovations.
Location: Riverside County, CA
Capital Source: Community Bank
Loan Type: Bridge Loan
Loan Size: $2,200,000
5. Commercial Properties
Mandri discreetly liaised with a number of tight relationships in the private lending space to identify a lender candidate to provide a cash-out finance across a portfolio of commercial properties in the Western US in order to capitalize a partnership buy-out.
Location: Western States
Capital Source: Private Debt Fund
Loan Type: Bridge Loan
Loan Size: $16,000,000
If you’re interested in learning more, please email for a confidential discussion at mfriedman@mandricapital.com.
