Commercial Mortgage Refinance: $8.25 million shopping center in Southeast
This commercial mortgage refinance was performed by commercial mortgage broker Financial Compound for a well located, older shopping center built in the 1940s. The center is unanchored and consists of 150,000sf of rentable area. Most of the leases expire by 2015. For this $8,250,000 commercial mortgage refinance Financial Compound researched and demonstrated more than a 10 year history of stable occupancy and cash flow. This is a 3 year fixed-rate, non-recourse loan with a 7.75% interest rate, no amortization, and a 1% lender fee, no prepayment penalty, no leasing reserves collected from property cash flow. Two additional years of loan term can be exercized by the borrower for 1/4%.
Commercial mortgage broker Financial Compound has assisted this borrower with its commercial financing needs for more than 12 years and has enjoyed a strong working relationship with this client as well as numerous commercial real estate lenders. Commercial mortgage broker Financial Compound is in active discussions with more than 300 lenders per week regarding the placement of our clietns transactions. As a result this commercial mortgage broker has its finges on the pulse of the real estate capital markets.