$8,900,000
Rancho Cucamonga, CA
Transaction Type
Loan Refinance
Non-Recourse
Loan Type
Permanent Loan
Situation & Challenges
- Refinance of an existing bridge loan
- 100% leased at loan closing
- Concentrated rent roll with a total of three tenants
- Largest tenant was experiencing a decline in sales at this location
- One of the anchor tenants was not ready to open for business at loan closing
- Rollover risk during mid-term of the loan
Solutions & Highlights
- Two of the tenants were in place since the center opened in 1996 and one signed a 12-year lease extension
- Structured a creative rollover structure
- 15-year loan term with a flexible prepayment structure after year 10