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$13,250,000 | Solvang, CA building

Solvang, CA

Transaction Type

Loan Refinance


Loan Type

Permanent Loan

Situation & Challenges

  • Property was recently stabilized with limited seasoning
  • Grocery and drug store anchored retail center that experienced pandemic related closure issues
  • Secondary market
  • Sponsor concerned with rising interest rates

Solutions & Highlights

  • 100% leased at close
  • New 20-year drug store lease
  • High percentage of national and credit tenants
  • Provided interest rate lock upon signing of term sheet