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Sunrise Realty Trust commits $44m to senior loan for mixed-use building in New Orleans
Transactions - FEBRUARY 4, 2025

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Sunrise Realty Trust commits $44m to senior loan for mixed-use building in New Orleans

by Released

Sunrise Realty Trust (SUNS) announced that it closed on a $44 million commitment to a $74.5 million senior loan originated by the TCG Real Estate platform for the construction of Shell Plaza in New Orleans. Located on Convention Center Boulevard and Henderson Street on a 1.6-acre parcel, the build-to-suit net-lease property will serve as regional headquarters for Shell USA. The remaining $30.5 million of the loan was syndicated to two affiliates on the TCG Real Estate platform (comprising $20.5 million) and another affiliated lending partner (comprising $10 million). The sponsor is a partnership between Lauricella Land Company and Cypress Equities, leveraging Lauricella’s long-standing relationships with the Shell team in New Orleans and Cypress’s demonstrated expertise in large build-to-suit developments.

With substantial completion anticipated in September 2026, the eight-story Shell Plaza will include 117,941 square feet of class A office space on floors 5–8 and 6,40

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