Situation/Challenges
- Limited seasoning.
- Recently stabilized grocery and drug anchored retail center.
- Pandemic related retail and store closure issues.
- Secondary market.
- Borrower concerned with rising interest rates.
Solutions/Highlights
- New 20 year drug store lease.
- High percentage of national and credit tenants.
- 100% leased at close.
- Provided interest rate lock upon signing of term sheet.