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Strip Mall – Cash Out Refinance

WHITTIER, CA

$1,000,000

WHITTIER, CA

 

Funding Purpose

Refinance his current loan since his lender would not extend his mortgage that was due

Property Description

6 tenant retail building in Whittier, CA

Sponsors

Avid Real Estate investor who owns 10+ properties and actually started his journey with a very successful outdoor swap meet business

Challenges

  • Very short term MTM Leases

Solutions

  • Was able to tell the story that 90% of the tenants had occupied the space for more than 10 years

Funding

  • Loan Amount (LTV): 60%
  • Interest Rate: 3.5%
  • Amortization: 25 Y
  • Term: 5 Y
  • Recourse: Non Recourse 
  • Prepayment: Allowed


Matt Bucaro

Matt Bucaro

TITLE

Senior Director, Capital Advisor

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