The borrower sought refinancing for two medical office buildings in the DFW area after their existing lender declined to refinance the construction loan due to the properties not yet reaching full occupancy. Like many transitional commercial real estate projects, the borrower faced challenges securing permanent financing because traditional lenders were hesitant to refinance assets that were still in the lease-up phase. In addition, the borrower needed to refinance the existing construction debt before the maturity and expiration date of the current loan, creating additional timeline pressure. Many lenders required stronger occupancy levels and higher debt service coverage ratios, limiting the borrower’s refinancing options and increasing the risk of disruption to the project’s long-term stabilization plan. The borrower needed a financing solution that could accommodate lower occupancy levels while still executing quickly enough to retire the construction loan before maturity.