Tryperion originated and retained the B-note of a stretch senior bridge loan for the acquisition and lease-up of the 64,000 SF office building. At closing, the Borrower executed a 25,000 SF lease with a credit-worthy medical office user, converting the building to partial medical use and bringing occupancy to 100%.
Tryperion originated a senior bridge loan collateralized by 154 residential units and retained the B-note. The Borrower’s business plan was to lightly renovate the rental units and convert them into individual condominiums for sale.
Tryperion provided preferred equity for the acquisition of a value-add portfolio of 74 student housing properties (616 beds) in the premier University of Illinois Urbana-Champaign student housing corridor.
Investment Highlights
Tryperion still owns the position after having been partially paid down sooner than anticipated
Tryperion provided preferred equity for the acquisition of the 340-unit garden-style multifamily property. The business plan focused on varying levels of upgrades to most of the units and select portions of the common areas to drive occupancy.
Tryperion provided preferred equity for the acquisition of a 93.5% occupied 440-unit multifamily portfolio. The Sponsor’s business plan focused on a light value-add program, including adding tech and unit upgrades, fencing in yards, and expanding the covered/reserved parking area.
Tryperion provided mezzanine financing for Superior House, a 34-unit, 79,000 SF luxury condo development in the River North neighborhood of downtown Chicago.
Investment Highlights
The property was built on-time on-budget and Tryperion was fully redeemed in 2020
Tryperion provided preferred equity for the acquisition and expansion of a 138-unit multifamily complex located on the Lake Erie waterfront. The business plan involved adding 29 units (167 units upon completion) by converting underutilized retail and parking garage space into rental units.
