Subject property is a 95,206 sq ft big box retail site on 9.64 acres. Borrower utilized the Rodeo loan for the purchase of this empty big box property and gave a fund controlled budget for Tenant Improvements so the borrower can satisfy the build out requirements for the four new leases with credit tenants that were signed. The Rodeo loan will allow the borrower to achieve his vision of converting this empty big box, negative cash flow property to a vibrant, profitable, multi tenant retail location. Borrower will exit Rodeo’s loan with either conventional financing or a sale of the property. Rodeo has successfully funded this borrower on multiple loans and as a result helped the borrower significantly increase his net worth.
- 63% Loan to Stabilized Value
- Fund Controlled Tenant Improvement Budget
- Built In Interest Reserves
- Repeat Highly Experienced Borrower