McBride Capital secures acquisition financing for 96,000 SF office building in Tacoma, WA
McBride Capital secured acquisition financing for The Commerce Building, a 96,000 square foot office building in Tacoma, WA. Located at 950 Pacific Ave, The Commerce Building is located in the heart of downtown Tacoma and features 12 stories of office with ground floor retail.
The loan was placed with a CMBS lender and features a 10-year term, with full term interest only payments. The loan closed in less than 40 days from application and was structured to avoid cash management in the event of major tenant roll. Upfront and ongoing TI/LC reserves were balanced to mitigate short term roll and maximize proceeds.
The deal team was led by Danny Natsch with support from Ian Schneidmiller.