3650 Capital led the origination of a $55M loan to refinance Shaw Park Plaza, a Class-A, 15-story, 278,000-square-foot office property in downtown Clayton, Missouri.
The loan carries a term of five years and was provided to Tryperion Holdings, a real estate middle-market equity and credit investor led by Founder and Managing Partner Jeff Karsh. Tryperion selected 3650 for its ability to offer “skin in the game” as well as its in-house special servicing capabilities.
Sponsor Tryperion has owned the property since July 2021. Since that time, the firm has executed a value-add business plan, investing $12.6 million in leasing expenditures and resulting in a 125% increase in NOI. Moreover, the building’s occupancy sits at nearly 97%. Proceeds from the loan were used to refinance the existing $52.72M floating-rate debt and fund closing costs.
