Applied Underwriters
$150M
Deal Size
15 Years
Lease Term
260,000 SF
Square Feet
Omaha, Nebraska
Location
The Challenge
Applied Underwriters planned a $150M new headquarters in Omaha to support growth and employee engagement. While a strategic asset, funding this build could tie up capital and limit flexibility. Applied Underwriters needed a partner to structure a flexible, long-term financing solution providing 12 months of construction funding that seamlessly transitions to lease-backed long-term financing upon completion.
What We Did
Dolfin structured a transparent 15-year Dolfin TI Lease with:
- 12-month construction draw period aligned with project milestones.
- Automatic conversion to long-term lease financing upon completion.
- Non-dilutive structure preserving capital for growth initiatives.
The Outcome
- Flexible 12-month construction funding.
- Seamless transition to long-term lease-backed financing.
- Preserves liquidity while executing a $150M HQ project.
- Supports return-to-office and operational expansion.
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