$6,700,000
Centennial, CO
Transaction Type
Auction Purchase
Non-Recourse
Loan Type
Permanent Loan
Situation & Challenges
- Acquisition loan from special servicer via Ten-X auction, resulting in a tight closing timeframe
- Class B specialty retail center
- Stabilized occupancy at closing
- Future facilities necessary for repairs and improvements needed during loan term
- Tenancy consists of local, neighborhood businesses
Solutions & Highlights
- Sponsor was a repeat A10 borrower specializing in retail properties
- Closed in under 30 days to meet auction timeline requirements
- Structured creative rollover and capital improvement reserves
- 7-year fixed-rate term, 30-year amortization