$4,875,000 Acquisition Financing for an 88% Occupied Neighborhood Strip Center; Ventura County, CA

Transaction Description:

George Smith Partners successfully arranged $4,875,000 in acquisition financing for a non-grocery anchored retail shopping center in Ventura County. The Subject Property took a minor hit with rent collections during the Covid-19 pandemic and had many month-to-month tenants. GSP was able to illustrate to the Capital Provider how the Subject Property has rebounded nicely since then and has only been increasing in cash flow. GSP identified a Capital Provider who was comfortable with the mom-and-pop tenants, required no holdbacks of any sort for the vacant units, required no deposits to be held at their branch and provided a flexible prepayment penalty structure.

  • Rate: 4.00%
  • Term: 5 years fixed
  • Amortization: 30 years
  • LTV: 65%
  • Prepayment Penalty: 5/4/3/0/0
  • Banking Relationship/Deposits Required: None
  • Guaranty: Recourse

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