The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
September 22, 2018
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



PRESS RELEASES
Printer-friendly Version   Email an Associate
JOHNSON CAPITAL ARRANGES CASH-OUT REFINANCING FOR SCOTTSDALE OFFICE OWNER IN $9.3 MIL TRANSACTION

8/25/10

JOHNSON CAPITAL ARRANGES CASH-OUT REFINANCING FOR SCOTTSDALE OFFICE OWNER IN $9.3 MIL TRANSACTION

SCOTTSDALE, AZ – JOHNSON CAPITAL announces that Don Burnes, Senior Vice President of the firm’s Phoenix office, recently arranged a $9.3 million line of credit for the owner of a 190,000 square foot, Class A, multi-tenant office complex. The financing, which is secured by a first lien on the property, is noteworthy because the six-year revolving credit facility was structured with a cash-out provision for the borrower, a rare occurrence for an office asset in this lending environment.

The loan was provided by a regional bank and it carries a fixed interest rate for the first two years after which the rate may be reset based on a specified index. While a portion of the capital is reserved to pay for anticipated costs associated with re-tenanting portions of the project, significant funds are also available to the borrower for other investment purposes.

Commenting on the transaction, Burnes noted that, “This has been one of the few private owner office property financing transactions to close this year in the greater Phoenix area. It provides the owner the ability to now pursue additional real estate opportunities in this market.”

About Johnson Capital:

As a leader in commercial real estate investment banking, Johnson Capital’s services include debt placement and acquisition financing for permanent loans, construction financing and property repositioning, in addition to joint venture equity placement for individual assets, portfolios, entities and discretionary funds.

Johnson Capital’s transactions have ranged in total funding from $1 million to over $300 million and have financed all property types, including: multifamily, office, retail, industrial, hotels, mixed use, manufactured housing, credit-tenant leases, single family housing and land developments. Founded in 1987, Johnson Capital is now one of the country’s top real estate capital advisory firms with 16 locations nationwide.

For more information, go to: www.johnsoncapital.com.

Mr. Don Burnes
Senior Vice President
Johnson Capital
5080 N. 40th St #300
Phoenix, AZ 85018
602-522-0073
don.burnes@johnsoncapital.com





Return to the previous page
 


Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2018 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media