Swift Real Estate Partners
$84M
Deal Size
13 Years
Lease Term
180,000 SF
Square Feet
Millbrae, California
Location
The Challenge
Swift, a leading Private Equity real estate firm, was seeking the best solution to complete the office space on a recently acquired office building in Millbrae, California. Utilizing its creative credit-based structure to finance tenant improvements, Dolfin worked collectively with Terra Real Estate Capital, LLC to source the most efficient loan execution to achieve Swift's financing objectives, which included maximum leverage, competitive pricing, and term flexibility.
What We Did
Dolfin and Terra facilitated a 13-year credit-based loan for Swift. The structure was tailored to:
- Fund $84M in acquisition and tenant improvement costs.
- Provide pre-payment flexibility.
- Provide predictable fixed payments at a competitive rate with a transparent, credit-based financing structure.
The Outcome
- $84M of previously deployed equity returned to Swift at close.
- Fixed, predictable lease payments over the full term.
- Long-duration structure matched to transit asset life — no refinancing risk.
- Institutional capital partner funded at close with no syndication risk.
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