Rodeo Lending closes a $3,275,000 purchase and rehab loan for a Commercial property in Downtown Phoenix, AZ

The subject property is 14,955 square foot warehouse that was re-purposed as a retail and office space. Located in Phoenix’s Roosevelt Row, a walkable arts district full of impressive murals, art galleries, restaurants and boutiques. The buyers are existing tenants and local developers who are dedicated to preserving the neighborhood using socially and environmentally sustainable practices. This iconic building has an eclectic mix of tenants including an art gallery, photography studio, café, event space, and multiple co-work office spaces with common areas. With a fund controlled budget of $630,000 Rodeo’s loan allowed the buyers to purchase the property and fund tenant improvements.

DEAL HIGHLIGHTS:

  • 62% Loan to Stabilized Value
  • Built In Interest Reserves
  • Fund Controlled Tenant Improvement Budget
  • Experienced Borrower

 

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