$3,600,000 Cash-Out Refinance of Los Angeles Shadow-Anchored Retail Center

  • Rate: 4.92%
  • Term: 10 Years
  • Amort: 30 Years
  • LTV: 70%
  • Prepayment: Defeasance
  • Non-recourse

Transaction Description: GSP successfully placed a $3,600,000 non-recourse loan on inline retail space shadow-anchored by an ethnic grocer in an industrial suburb of Los Angeles in the San Gabriel Valley. The anchor has no obligation to report sales. Sponsor has owned the property since 1980 and the transaction provided a significant return of equity to the Sponsor, who was able to lock in sub 5% financing for ten years in addition to the cash-out. The 70% LTV, 10 year loan is fixed at 4.92% (SWAPs + 2.05%) and amortized over 30 years.

Advisors

Gary M. Tenzer

Managing Director & Principal / GSP Co-Founder

Michael Anderson-Mitterling

Managing Director

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