$3,250,000 Acquisition Permanent Financing on a 82% Occupied Shopping Center Lakewood, Colorado

GSP successfully arranged $3,250,000 in first mortgage debt for the acquisition of a 5-tenant shopping center located in Lakewood, Colorado. The property, a one story retail building built in 2012, is known as Lakewood Promenade.   The property contains approximately 9,890 square feet of leasable area on 1.02 acres of land. The property was 82% occupied at the time of closing. GSP identified a lender who is comfortable with the sponsor’s market expertise and the property’s leasing potential. Letters of intent for the vacant space were provided to the lender which showed no reserves or hold-backs for tenant improvements and leasing commissions.