$3,855,000, acquisition
4.75 % fixed
10 year fixed rate loan with 5 year reset
25 year amortization
No-Prepayment Penalty
Foreign National sponsorship
Savings bank execution.
This retail strip has 34,200 SF with 21 tenants, shadow anchored by Ross’s and Beall’s Outlet . Sponsor is a foreign national and wanted a loan with no prepayment penalty and flexibility. This center has about 10% vacancy and lots of short term lease roll.
Closed by Brad Beattie and Michael Brown
