GreenLake Funds $42,500,000 Discounted Pay-Off for a Regional Mall in Metro Atlanta

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Jul 20, 2022, 08:54 ET

STONECREST, Ga., July 20, 2022 /PRNewswire/ -- Los Angeles based GreenLake Asset Management LLC ("GreenLake") has funded a $42,500,000 discounted pay-off loan for the Mall at Stonecrest, a 400,000 square foot super-regional mall located in Stonecrest, GA.

An experienced mall operator approached GreenLake for a loan to support a discounted pay-off, which would enable the sponsor to recapitalize a property that was overleveraged. Despite existing issues, the mall generated strong cash flow during the pandemic. GreenLake was able to navigate a complex situation and provide funding for the borrower to stabilize the property.

Peter Chang, managing principal at GreenLake stated, "This was a complex transaction involving multiple parties which we were able to successfully navigate due to our extensive experience with special situation loans. The sponsor has a great track record and expertise in mall operations, and we strongly believe this team can stabilize the asset within a year."

Founded in 2008, GreenLake Asset Management LLC and its affiliates provide short-term commercial bridge loans nationwide. GreenLake offers creative, flexible and time-sensitive capital solutions for a broad spectrum of real estate special situations. GreenLake lends across a range of asset classes including hospitality, industrial, multi-family, self-storage, mixed-use, office and retail.

Contact:

Kamau Coleman
Director, Originations
626.529.1084
[email protected]

Adam Frank
Vice President, Originations
646.766.0288
[email protected]

Renee Volaric
Vice President, Originations
646.766.0286
[email protected]

www.greenlakefund.com

SOURCE GreenLake Asset Management LLC