$32.4M USD Structured Refinance Facility

Client Objective:
A Dallas-based ownership group sought to refinance the existing debt on Mockingbird Towers, a two-building Class A office complex anchored by Regus, located near Dallas Love Field Airport. The goal was to consolidate existing obligations, improve loan terms, and free up liquidity for future tenant improvements and capital expenditures.

Key Considerations:
• Loan Amount: $32,415,000 USD refinance facility secured by stabilized office assets.
• Objective: Optimize interest rate, extend term, and enhance cash flow flexibility.
• Sponsor required a non-recourse structure with competitive leverage from a private lender.
• Secure Capital negotiated favorable prepayment and covenant terms under a fund-based facility, ensuring timely close amid tight credit conditions.

Financing Structure:
• Total Facility: $32,415,000 USD
• Loan Type: Senior Debt Refinance
• Lender Type: Private Fund
• Term: 5 years, interest-only with renewal option
• Collateral: Mockingbird Towers – 450,000+ sq.ft. Class A office/retail complex

Results:
• Successfully refinanced legacy bank debt within 30 days of engagement.
• Reduced weighted average interest cost by 120 bps.
• Improved DSCR coverage and released reserve capital for tenant improvements.
• Strengthened client’s long-term liquidity and portfolio positioning in a high-demand Dallas submarket.