Our client wanted to acquire this 112,000 sq. ft., 65% leased, class “B”, general purpose office building and upgrade it to a “state-of-the-art” medical office facility. iCap arranged $19,000,000 in senior debt and another $4,000,000 in mezzanine debt, representing 94% of the project’s costs. Place with one of our correspondent lenders, the entire debt structure was fixed, long term and non-recourse. The transaction only took 30 days from Application to Closing.