Project Details

 
 

202,000 +/- square foot retail power center

Newly constructed in 2004

Almost fully leased at the time of securing permanent take-out debt

Non-traditional anchor tenants with one of the anchors having financial difficulty complicated the loan process a bit

We were able to source a conduit lender that was able to look past the anchor tenant issues.  Ultimately lender was comfortable with the asset based on strong sponsorship, slightly lower LTV and the borrower’s local knowledge being able to mitigate some of the risk

 

Elk Grove Marketplace