Helping a nonprofit refinance a bond or create an entity

[Jessica B.]

This particular nonprofit is paying 8% on 2.5mil loan for a building. The building is worth far more than 2.5mil given it's new zoning and location in Portland. If I had to guess the building is worth at least 10mil. They are building rich and cash poor right now. They are struggling to balance their budget. They would benefit from restructuring the bond to a lower interest rate or somehow getting accessing the equity.

Here are my initial thoughts: It does the nonprofit no good to own this asset. They are not allowed to make a profit and if they ever went belly-up the asset would simply be donated to other non-profits. What they would benefit from is lower payments. 

Here are my questions: Is restructuring the bond the best route? Is there another entity that could be created that would own the building and rent it to the non-profit at a cheaper rate? Does anyone on here have any experience doing this sort of thing.