2 Property Retail Portfolio in Greater Los Angeles

 

CAPITALIZATION HIGHLIGHTS

 

Loan #1

 

  • $3.75MM
  • 2 years interest only
  • Environmental reserve provided for remediation
  • Funding Source: Private Lender

 

Loan #2

 

  • $3MM
  • 10 yr term/30 yr amortization
  • No reserves required
  • Funding Source: Local Bank

 

SALIENT DEAL POINTS

 

  • Two retail centers were cross collateralized with a maturing hard money loan.
  • Sponsor was seeking financing to uncross the properties and provide capital to address environmental concerns on one property.
  • Refinanced into a conventionally and bridge loan that reduced debt service and provided much needed liquidity to the sponsor.
  • Tenant base of both properties was composed of 85% mom and pop small businesses.