$2,840,000 Retail Tenant Improvement Loan with Tesla Supercharger Anchored Location



Property Type

Loan Type

February 16, 2024

Rodeo Lending recently achieved a significant milestone by successfully closing a $2,840,000 Retail Tenant Improvement Loan. This financing endeavor marks a strategic move in commercial real estate; anchored by a prominent Tesla Supercharger location, the property presents a compelling investment opportunity.

Property Overview

The subject property is 8,592 square feet, featuring five meticulously upgraded modern retail units. Central to its appeal are the 16 Tesla Supercharger Stations, underscoring the property’s relevance in catering to the growing electric vehicle market. Currently, the five units boast a commendable 67% occupancy rate, with promising prospects on the horizon.

Tenant Prospects

A noteworthy highlight is the Letter of Intent, indicating the imminent attainment of full occupancy with nationally recognized fast-food restaurants. This development underscores the desirability and marketability of the property, further solidifying its standing within the retail landscape.

Rodeo Lending’s Contribution

Rodeo Lending’s involvement proved instrumental in facilitating the transaction’s success. The loan paid off the borrower’s existing mortgage and provided the necessary funding for tenant improvements—a pivotal aspect in enhancing the property’s allure and functionality. Rodeo Lending’s efficient in-house fund control program streamlined the process, earning accolades from the borrowers for its effectiveness and reliability.

Closing Highlights

  • Tesla Supercharger Anchored Site: The property boasts 16 Tesla Supercharger Stations, positioning it as a focal point within the electric vehicle infrastructure network, enhancing its appeal and long-term viability.
  • 63% Loan to Completed Value: With a prudent loan-to-value ratio, the financing arrangement reflects sound risk management practices, ensuring financial stability and security for all stakeholders involved.
  • Fund-Controlled Tenant Improvement Budget: Rodeo Lending’s comprehensive approach extends to fund-controlled tenant improvement budgets, ensuring seamless execution and accountability throughout the enhancement process, ultimately maximizing the property’s potential and market value.

Future Outlook

Looking ahead, the borrowers have various exit strategies in mind, including a long-term refinance or a strategic property sale. These options underscore the flexibility and adaptability inherent in Rodeo Lending’s financing solutions, catering to diverse client needs and aspirations.

In summary, Rodeo Lending’s recent closing of the $2,840,000 Retail Tenant Improvement Loan is a testament to its commitment to excellence and innovation in commercial lending. With a keen focus on client satisfaction and strategic foresight, Rodeo Lending continues to carve a distinct niche in the competitive landscape of real estate financing, poised for further success in the times ahead.

Contact Rodeo

For inquiries or further information, please get in touch with Rodeo Lending’s dedicated team, who is ready to assist with your commercial financing needs. https://rodeolending.com/contact/

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