Though the pandemic created uncertainty for retail and office properties, the borrower wanted to seize upon historically low rates. By sourcing an accommodating CMBS lender and managing the entire underwriting\third party process, CommCap elevated the strengths of the transaction over the fear in the market. After exhaustive analysis and without all tenants open for business, the loan closed at the requested amount and with an interest rate reduction.
Loan Highlights
Property Type: Office/ Retail
Property: Gardner Plaza
Lender Type: CMBS
Loan Type: Refinance
Loan Amount: $17,150,000
Term: 10 year
Amortization: 30 Years
Non-Recourse
Kyle Nagy 702-792-7553 Knagy@commcapnv.com Sebastian Torres 702-792-7554 Storres@commcapnv.com
