The asset involved in this transaction is a retail property located in Orange County, with a square footage of 21,478. The loan amount secured for this property is $9,000,000, which is part of a refinance loan with terms of 5+5 years.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $9,000,000
• Loan Type: Refinance
• Loan Terms: 5+5
• Loan-to-Value Ratio (LTV): 58%
• Loan-to-Cost Ratio (LTC): 85%
• Amortization Period: 25 years
• Interest Rate: Mid-6's
• Prepayment Penalty: 2%, 1.5%, 1%, 0.5%, 0%
• Cash Out: ~$6,000,000

Jonny Soleimani from Pacific Southwest Realty Services represents the deal, highlighting that a corporate-guaranteed lease commenced despite the tenant being a few months away from occupancy. The transaction is characterized by limited recourse of less than 50%, low costs, and the absence of deposits, and it closed less than a year after the acquisition.