For Corporate Tenants

Your CapEx.
Our lease.

Dolfin finances 100% of your capital expenditures — TI, equipment, soft costs — as a single, fixed-rate lease matched to your occupancy term.

What we finance.

Instead of funding your buildout from cash or your revolver, Dolfin funds during construction and you repay over the life of your lease — fixed monthly payments, no balloon.

What Dolfin Finances

Category
Examples
Tenant Improvements
Build-outs, renovations, MEP, finishes
Equipment & FF&E
Furniture, technology, specialty equipment
Soft Costs
A&E fees, permits, construction management
CapEx Reimbursement
Retroactive liquidity for completed projects

The Tenant Benefit

100% Financing
No equity required. Full project cost financed at close.
Off-Revolver
Preserves your credit facility for operations and growth.
Fixed Rate
Predictable monthly payment for the life of your lease.
Fast Close
As little as 8 weeks from initial call to funded.

Do you qualify?

Tenant Credit Profile

Investment-grade or near-IG

Public companies, well-capitalized private firms, health systems, universities
Lease Term

Flexible. Typically 10-20 years

New buildouts and retroactive reimbursements both eligible
Geography

Global

No geographic restrictions

Industries We Serve

Dolfin has closed transactions across a wide range of sectors wherever corporate tenants have significant CapEx tied to long-term occupancy commitments.

Corporate HQ
Healthcare
Legal
Financial Services
Life Sciences
Data Centers
Hospitality
Education

Already spent the capital?
Get it back.

If your company has already funded tenant improvements, Dolfin can convert that deployed capital into immediate liquidity — no matter when the work was completed.

How Retroactive Reimbursement Works

Most tenants assume TI financing only works on new buildouts. It doesn't. Dolfin can finance improvements that were completed months or even years ago — converting sunk costs on your balance sheet into a long-term, fixed-rate lease obligation and returning the cash to you at close.

There is no time limit on prior expenditures. If you have occupied space with leasehold improvements you funded, you likely qualify.

Structure

Sale-Leaseback

Dolfin repurchases your improvements at book value and leases it back to you under a long-term Dolfin Lease
What You Receive

Cash at Close

Recover your capital at close — redeployed into your core business
Time Limit

None

Improvements funded last month or five years ago are both eligible
Occupancy

Uninterrupted

You remain in place — no disruption to operations or space configuration
Lease Requirement

5+ Years Remaining

Active lease with 5 or more years remaining on the term
Who This Is For
The Recent Build-Out
You completed a major TI project and funded it from cash or your revolver. The capital is sitting in your leasehold improvements.
The New Lease Signing
You are about to sign a new lease and want to negotiate a larger TI allowance — or finance improvements the landlord won't fund.
The Lease Renewal
You are renewing a lease and funding a refresh or expansion. Dolfin can finance the incremental spend and retroactively reimburse prior improvements in the same transaction.

Ready to put your
CapEx to work?

Tell us about your project.