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Life After Exxon: Meadows at Interwood Has New Loan, New Tenants


After Exxon vacated 40% of the Meadows at Interwood late last year, Q10 KDH’s Matt Franke (here with his kids Ana Sofia and Nicholas) and Emily Zarcaro set out to get financing for the unstabilized asset, a real challenge. First, the owners upgraded the common areas and divided the large floor plates. Now things are looking up; Colliers has aggressively marketed, bringing in four new tenants this year. And Matt and Emily locked in $6M of non-recourse money at a mid-4% interest rate. (It includes a modest re-tenanting reserve that the property owner can access as new leases are signed.)