HUNTINGTON BEACH, Calif., Oct. 10, 2023 /PRNewswire/ — Schelin Uldricks & Co. announces that it has arranged $18,100,000 in bridge financing for the Blazer Parkway Portfolio, a two-building 592,272 square foot suburban office and lab portfolio in Dublin, Ohio. The new financing enabled the property owners to refinance a maturing loan and reserve funds to sign new leases and stabilize operations.
The owners of the Blazer Parkway portfolio had been struggling to find replacement financing for their property after a months-long unsuccessful marketing campaign with a national brokerage firm. The owners turned to Schelin Uldricks & Co. for assistance, and the firm quickly identified a private lender that understood the local market and was still providing funding for the right office investments.
“This financing was especially challenging due to the asset type, suburban location, and pending vacancy of one of the project’s major tenants. Despite the headwinds, our client was a strong borrower with a sound business plan that we effectively communicated with the new lender to get them on board. This financing solved a timing issue for our client and we got it done expeditiously.” commented Ethan Schelin, Managing Partner at Schelin Uldricks & Co. “The world has a negative view of suburban office right now due to the rise of remote working. This deal is a prime example of our creativity and ability to uncover unique capital partners for our clients, even in uncertain times and in out of favor asset classes.”
About Schelin Uldricks & Co.
Schelin Uldricks & Co. offers investment banking services with a focus on providing capital solutions to real estate companies and other mid-sized businesses.
Headquartered in Huntington Beach, California, Schelin Uldricks & Co. embodies a progressive entrepreneurial culture focused on integrity, transparency, execution, and ingenuity. The founding partners bring extensive capital markets experience in investment banking, private equity, and real estate finance. The company offers a broad array of services, including debt and equity placement, M&A consulting, GP advisory, divestitures, and financial restructuring.
SOURCE Schelin Uldricks & Co.
Originally published at https://www.prnewswire.com/news-releases/schelin-uldricks–co-successfully-arranges-18-100-000-in-bridge-financing-for-592-272-sf-suburban-office-portfolio-in-dublin-ohio-301951722.html
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