other material
confidence high
sentiment neutral
materiality 0.60
Bluerock Homes provides $33M secured loan and guaranty for Northern California office/lab acquisition
Bluerock Homes Trust, Inc.
- Loan principal $33,088,000 at 13.0% fixed coupon, 36-month term, secured by pledge of Class II interests.
- Proceeds fund acquisition of Class II interests in BR HPE Zero Coupon DST; property is 340,496 sq ft office/lab facility bought for $330,777,000.
- Sale-leaseback with 20.5-year lease guaranteed by investment-grade tech company; senior A-1 note of $309,980,618 at 6.54%.
- Company provides non-recourse carveout guaranty and hazardous materials indemnity; earns $125,000/yr fee (max $625,000).
- Audit Committee approved transaction; DST Manager indemnifies company for willful misconduct or gross negligence.