InPoint Commercial Real Estate Income, Inc. Announces Origination of $12.4 Million Mortgage Loan
Nicole Spreck
Inland Communications
(630) 218-8000Ext. 4896
[email protected]
Oak Brook, Ill. 鈥� InPoint Commercial Real Estate Income, Inc. (鈥淚nPoint鈥�), a commercial mortgage real estate investment trust sub-advised by an affiliate of Sound Point Capital Management, LP, announced today that, through its operating partnership, it originated a mortgage loan for an 8-story, class A office building and parking structure (the 鈥淧roperty鈥�) located in Honolulu, HI. 乐竞体育APP loan is comprised of a $12.4 million initial funding to refinance existing debt and a potential future funding of $2.25 million for a loan total of $14.65 million.
乐竞体育APP initial funding of $12.4 million represents 67% of the Property鈥檚 appraised value. 乐竞体育APP borrower is a joint venture between two experienced and well-capitalized, national commercial real estate firms.
乐竞体育APP Property is located in the Honolulu Central Business District (鈥淐BD鈥�). 乐竞体育APP immediate area includes many state and federal agencies, court houses and the expanding Hawaii Pacific University.
鈥溊志禾逵鼳PP Property is right downtown, walkable to all the major demand generators in the Honolulu CBD,鈥� said Don MacKinnon, president of InPoint Commercial Real Estate Income, Inc. 鈥淚n addition, the submarket continues to grow, particularly with Hawaii Pacific University increasing their need for space. We are excited to be partnered with two seasoned operators that have shown they can increase value at the asset.鈥�
About InPoint Commercial Real Estate Income, Inc.
Externally managed by a wholly-owned indirect subsidiary of Inland Real Estate Investment Corporation, InPoint Commercial Real Estate Income, Inc. is a commercial mortgage real estate investment trust that seeks to originate, acquire and manage a diversified debt portfolio secured by commercial real estate properties primarily within the United States. Single-tenant net leased properties also may be acquired as appropriate based on market opportunity.