$8,500,000
10 year term
30 year amortization
Non-Recourse
Sponsor had purchased the building vacant, leased it quickly, and was able to get a cash out refi within 2 weeks of store opening.
Challenges:
Big box single tenant retail is always a challenge. The Banyan Team had to focus on lenders with experience with this particular tenant. Store is 120,000 SF, and was vacant and under renovation when the loan process began.
CMBS Execution
Closed by Zach Nimhauser & Michael Brown
zn@banyancc.com
mb@banyancc.com
