We fund tenant improvements, leasing commissions and soft costs on the strength of the tenant’s credit. No recourse to the property, no capital from the landlord, nothing added to the mortgage.
$420M+
in tenant improvements funded
Up to 100%
of TI, commissions and soft costs
10 to 25 yrs
fully amortizing terms
Non‑recourse
to the landlord and the asset
Trusted by the largest players in commercial real estate.
MEP.
White space.
NEW · DATA CENTERS
Tenant fit-outs in data centers run far beyond a typical office allowance. The MEP-WS Lease funds them on the tenant’s credit, alongside the developer’s own financing rather than inside it.
A standalone lease, underwritten on the tenant’s credit and priced off Treasuries plus a spread matched to that credit. It sits outside the space lease and the mortgage, from the RFP stage through post-occupancy.
01
We underwrite the tenant’s credit and structure a standalone TI Lease that behaves like its unsecured debt, completely separate from the property and the senior mortgage.
02
We place the TI Lease with institutional capital: life insurers, banks and credit funds. Improvements and leasing commissions are funded with no outlay from the landlord, the lender or the tenant.
03
The TI Lease is signed and proceeds are funded into escrow at closing, then disbursed as the work completes. The space is delivered; everyone’s cash is preserved.
Offer turnkey concession packages without raising debt, calling LP capital or adding recourse to the asset.
For landlords →
Stabilize the rent roll with no lien on the building, no claim on rents and nothing added to the capital stack, including CMBS.
For lenders →
Move into space built to spec, funded through escrow, with the cost paid as rent over the lease term instead of upfront.
For tenants →
Mechanical, electrical and white-space fit-outs, funded on the occupier’s credit and outside the construction loan.
Data centers →
From new Class A headquarters to towers in special servicing: TI, commissions and soft costs for new leases and renewals.
Office →
Manufacturing, logistics and life science build-outs that run well past a standard landlord allowance.
Industrial / Lab →
FEATURED TRANSACTION
The firm consolidated several offices into a new Class A headquarters and needed far more than the landlord’s allowance. The TI Lease funded the full improvement budget at a rate in line with the firm’s own borrowing, so partners paid rent over the term instead of $222M upfront.
$222M
TI Lease
15-yr
fully amortizing
680K
square feet
Class A
new headquarters
Tell us about the tenant, the space and the budget. We will come back with whether the TI Lease fits and how it would be priced.
