Dolfin Provides $150M in Transformational Financing for New Global Headquarters of Applied Underwriters

Dolfin delivers $150M in TI financing to support Applied Underwriters’ new global HQ, enabling capital preservation and long-term growth.

NEW YORK, NY, UNITED STATES, July 14, 2025 /EINPresswire.com/ -- Dolfin, a financial firm pioneering a new way to finance tenant improvements, today announced it has closed $150M in financing for Applied Underwriters to support the construction and long-term occupancy of their new global headquarters in Omaha, Nebraska.
The financing was structured as a transparent, 15-year credit-based Dolfin TI Lease, featuring a 12-month construction draw period that automatically converts into long-term lease-backed financing upon project completion. This innovative structure allows Applied Underwriters to preserve capital while executing a bold strategic expansion initiative.

“Applied Underwriters had a vision for a world-class headquarters that supports employee

engagement and future growth,” said Keely Ryder, co-founder of Dolfin. “We’re proud to have delivered a long-term financing solution that aligns seamlessly with their operational goals while preserving liquidity and flexibility.”

Applied Underwriters, a global risk services firm, is known for its financial strength and innovative approach to insurance, reinsurance, and business services. The firm’s new headquarters will support its continued growth and return-to-office momentum.

“Dolfin’s flexible financing structure enabled us to execute our vision for a world-class headquarters in Omaha without tying up capital that is better used to grow our business,” said Jeff Leach, Chief Investment Officer of Applied Underwriters. “Having a partner that understands both real estate and our operational needs made all the difference.”

By providing unsecured capital based on tenant credit and structuring it as a fully amortizing lease, Dolfin continues to deliver value to forward-looking tenants like Applied Underwriters. The result is greater financial agility — enabling companies to transform real estate investments into powerful strategic tools.

About Dolfin
Dolfin is a financial firm pioneering a new way to finance tenant improvements across the commercial real estate industry. With decades of expertise in lease-backed financing, Dolfin understands how to provide value to the real estate industry utilizing its creative leasing structure. Dolfin’s TI Lease provides landlords and tenants with a cost-efficient and streamlined alternative to spending capex on space improvements.
http://dolfinpartners.com

About Applied Underwriters
Applied Underwriters® is a global risk services firm helping businesses manage uncertainty through insurance, reinsurance, and business solutions. Renowned for financial strength and innovation, Applied Underwriters operates globally, with its operational headquarters in Omaha, Nebraska.
https://www.auw.com