Rhino Investments Secures $15,500,000 Acquisition Loan From BOLOUR For Retail Asset In Anderson

The property involved in this transaction is a retail asset located at 1816 California Highway 273 in the Anderson market, spanning a total of 164,803 square feet. This asset received a loan amount of $15,500,000, categorized as an acquisition loan with a term of 24 months and an optional 12-month extension.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $15,500,000
• Loan Type: Acquisition
• Loan Terms: 24 months + 12 Month Extension
• Lender: Mark Bolour, DaJuan Bennett & Jason Huang - BOLOUR - BA Debt Fund
• Landlord: Rhino Investments
• Landlord's Rep: Jeff Sause - JLL

This transaction was characterized by a unique lending environment, requiring a lender comfortable with underwriting grocery-anchored retail in a tertiary location, as outlined in the note from the lender. The deal included plans for near-term demolition of a vacant theatre, tenant relocations, and lease-up, with a strategy for future pad development, showcasing the complexity of the deal that BOLOUR undertook.