Gallery Image #1 Gallery Image #2 Gallery Image #3 Gallery Image #4
Situation/Challenges
  • Class B+ retail shopping center
  • 34.2% occupied at closing
  • Vacant space is comprised of three junior anchor suites that were recently vacated by national tenants (two due to corporate bankruptcy)
  • 100% of the occupied suites potentially roll during the loan term
  • Significant TI/LC facility needed to lease up the property and return it to stability
Solutions/Highlights
  • Structured over $1.9 million in TI/LC and rollover facilities
  • Center is well-located in a major MSA with strong growth rates and demographics
  • A six-year long highway construction project was completed providing the property with greater visibility and accessibility
  • Sponsorship is local and has extensive experience in repositioning retail assets in the market
  • Non-recourse
  • 5-year term plus extensions