Rodeo Lending closes a $10,182,000 Purchase Loan for a Strip Center in Madera, CA

Property Type

Loan Type

September 29, 2021

The subject property is an 8 parcel, 71,985 SF retail center with National Tenants (2 major fast-food chains and a national bank) along with an urgent care facility. Rodeo’s loan helped the borrower acquire the property and fund the tenant Improvements for 2 new tenants (a local grocery and a Northwestern Coffee Chain with over 30 locations) which will bring occupancy to 100%. Our repeat, experienced borrower already has multiple interested parties looking to acquire some of the individual retail parcels and will exit the loan with the sales of these parcels.

Deal Highlights:

  • Experienced Repeat Borrower
  • Fund Controlled Tenant Improvement
  • Built-in Interest Reserves

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