Acquisition Loan for Two Vacant Mid-West Retail Assets

Transaction Description:  Shahin Yazdi placed the 60% of purchase debt for two – 24,000 square foot vacant retail properties that were newly constructed, but empty shells, requiring tenant improvements for leasing. No interest reserve or TI reserves were required for funding. While vacant properties are difficult to finance, the borrower’s strength and market experience with this asset type, as well as the asset quality and superior location provided comfort to the lender for this execution. The Prime based floating rate loan is floored at 4.75% and does not require a pre-payment penalty.