The subject property is a 98% occupied 88,323 sq ft Albertson’s anchored multi tenant retail center on 8.1 acres with a 415 space parking lot in a desirable area within Olympia, Washington. The loan proceeds were used to pay off the purchase loan, move 2 tenants out and provide the tenant improvements to move a major fitness club into the property. Rodeo financed 100% of the agreed upon tenant improvements, which will allow for the new tenant to move in. Once the tenant moves in, the property will be worth much more. Experienced repeat borrower who has successfully utilized Rodeo’s platform to increase his net worth significantly. Borrower will exit Rodeo’s loan either by a sale or refinance of the property.
- 63% Loan to Rehabbed Value
- 30 Day Close
- Fund Controlled Tenant Improvement Budget
- Repeat Highly Experienced Borrower