Rodeo Lending Closes a $7,085,000 Strip Center Refinance in Port Orchard, Washington



Property Type

Loan Type

August 5, 2021

The subject property is a 73,908 sq ft multi-tenant neighborhood retail center. The borrower has recently signed leases from a National Fitness Center chain and a local Coffee House chain with over 30 locations. The loan proceeds were used to pay off the existing debt and provide Tenant Improvement funds for the incoming tenants. Rodeo is proud to provide the financing to help fill vacancies and once again become a vibrant retail center that will be an important part of the community.  The borrower will exit Rodeo’s loan with a conventional refi at stabilization.

Deal Highlights:

  • 65% Loan to After Repair Value
  • Fund Controlled Tenant Improvement Budget
  • Experienced Repeat Borrower



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