The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
September 30, 2023
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Commercial Real Estate Financing Briefs


GEORGE SMITH PARTNERS – Gary Tenzer with George Smith Partners arranged $39.3 mil in forward rate-lock permanent financing on a newly constructed, 154-unit, luxury multifamily property in downtown Ventura, one mile from the Pacific Ocean. The borrower sought a permanent loan to take-out the construction loan on the property. There was significant lease up risk for the permanent lender, as the property had not yet stabilized with less than a month of operating history at the time of loan underwriting. The 16-year, non-recourse loan is based on a 30-year amortization schedule with two years of interest-only payments. It was financed at 60% LTV.

NORTHMARQ CAPITAL – Paul Bruder with NorthMarq Capital arranged $14 mil in refi money for Canyon Crest Apartments, a 106-unit property located at 1550 Central Ave in Riverside. Constructed in 2004, the community is comprised of five, three-story buildings. Amenities include: controlled, gated access, clubhouse, fitness and business centers, pool and spa, picnic areas, as well as carports and garage parking. The non-recourse financing was funded by a life insurance company.

METROGROUP REALTY FINANCE - Scott Botsford with MetroGroup Realty Finance arranged $8.2 mil in financing for the acquisition of a value-add retail center in Moreno Valley. The acquisition included four multi-tenant retail buildings and two retail boxes totaling 117.2k sf, as well as four pads available for future development encompassing 5.24 acres. The assets are located at 27110, 27120, 27130, 27140, 27190, and 27220 Eucalyptus Ave. The sponsor plans to reposition the center in order to appeal to today’s shoppers and was looking for competitive financing that would allow it to fully execute its business plan. The sponsor acquired the asset at fifty% below its replacement cost and plans to make improvements throughout the center, as well as reshape the existing tenant mix to appeal to today’s consumers.

Return to the Archive 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 © 2023 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media