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