Sunrise Realty Trust, Inc. announced on February 3, 2025, that it closed on a $44.0 million commitment to a $74.5 million senior loan. This financing supports the construction of Shell Plaza in New Orleans, Louisiana.
The project is a build-to-suit net lease property designed to serve as the regional headquarters for Shell USA Inc. The loan was originated by the TCG Real Estate platform, with the remaining $30.5 million syndicated to affiliates and another lending partner.
Shell Plaza, an 8-story Class-A office space with retail, is anticipated to reach substantial completion in September 2026. This investment represents a significant addition to SUNS's portfolio, backed by a high-quality tenant and experienced sponsors, Lauricella Land Company and Cypress Equities.
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