Continental Partners Arranges $15M Loan For Santa Rosa Town Center Power Center In CA
2765 Santa Rosa Avenue
$15,000,000
$88/SF
Building Size
169,101 SF
Asset Type
Retail
Closing
Sep 22, 2022
AI
A $15,000,000 loan has been closed for the refinance of a retail property in Santa Rosa, CA. Located at 2765-2835 Santa Rosa Ave., the property has a total square footage of 169,101. The landlord, Sam Arikat, sought the loan to secure permanent financing for Santa Rosa Town Center, a Power Center.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $15,000,000
- Address: 2765-2835 Santa Rosa Ave., Santa Rosa, CA
- Market: Santa Rosa, CA
- Loan Type: Refinance
- Loan Terms: 15-year fixed, non-recourse, fully amortizing loan priced at 4.49%
JM Grimaldi and Dave Brelian from Continental Partners served as the brokers in this transaction. They successfully negotiated a fully amortizing, 15-year fixed debt package at a price of 4.49%. The loan, which includes a flexible prepayment schedule, offers a custom financing product tailored to the borrower's needs. The credit tenancy of the property includes tenants such as Petco, Smart & Final, Michaels Stores, Ross Dress for Less, Jack in the Box, Mattress Firm, and Scandinavian Designs.
Players
Navarre Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93