Barcelone Plaza Financed
An existing client included CommCap early in the process for their purchase of Barcelone Plaza. At first glance, it looks like any other two-story, multi-tenant retail location on Charleston but there was much more involved than what meets the eye.
Obstacles:
The property is on a shorter term ground lease that many lenders were unwilling to finance
One tenant makes up over 60% of the space
Seller had a defeasance prepay which required a very specific closing timeframe which was adjusted multiple times during the closing process
Why CommCap Advisors:
Identified a local lender who understands the strength of the location and experience of the borrower to get over the ground lease concern
CommCap outlined the growth of the tenant’s business over time and the strength of the market without needing to provide tenant financials
Worked with the lender and seller directly to outline a final closing date acceptable to all parties
It was a pleasure working with all involved and we are proud to announce another closing!
Contact today for current rates!
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As your exclusive advisors, CommCap utilizes proprietary systems, market expertise, and years of experience to secure aggressive financing options that best fit your property. Exclusive correspondent and servicing relationships with Life Insurance Company, CMBS, and Agency lenders ensure a broad and in-depth representation of current market conditions. Our team of advisors craft a loan structured to enhance revenue and allow you to focus on increasing cash flow.
We do not list, sell, manage, or lease property. We only arrange financing and are the best at what we do.