Faraz Ghadooshahy Of First Financial Capital Provides $20.7M Loan For Bakersfield Retail Acquisition

The property asset involved in this transaction is located at 10565 Copus Road in the Bakersfield market. This retail asset spans a total of 543,629 square feet and is part of a larger financing arrangement totaling $20,700,000. The acquisition includes a loan with 100% LTV for acquisition along with an additional $3,200,000 refinance of collateral.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $20,700,000
• Loan Type: Acquisition
• Loan Terms: 100% LTV for acquisition + $3,200,000 refinance of additional collateral. No prepayment penalty, renewal fees, or exit fees + 2 free annual renewal options.
• Lender: Faraz Ghadooshahy - First Financial Capital
• Landlord: Jackson Singh
• Date of Transaction: 11/20/2024

The deal was financed in 45 days and involved a $17,500,000 loan for a truck stop and travel center. Notably, the borrower did not put any capital into the deal, indicating a fully leveraged transaction.