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Rhino Investment Group Secures $21.86 Million Loan For Retail Asset In Cathedral City

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FINANCED
$20
Chad Morgan
Jeff Sause
Daniel Skerrett
+ 1

California

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Retail195,000 SF
Financed 09/12/2024
the dealplayerscompscontact
Property Image
FINANCED

Rhino Investment Group Secures $21.86 Million Loan For Retail Asset In Cathedral City

34351 Date Palm Dr

See Similar Deals
Retail195,000 SF
Financed 09/12/2024
Chad Morgan
Jeff Sause
Daniel Skerrett
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$0
Total Square Footage:195,000 SF
Transaction Type:Loan

The property asset involved in this transaction is a retail space located at 34351 Date Palm Drive in Cathedral City, featuring a total square footage of 195,000. The loan amount for this acquisition is $21,860,000.

Summary of transaction details:

This transaction includes key individuals and companies, notably the lenders from Calmwater Capital who facilitated the loan, as well as the landlord, Rhino Investment Group. The brokers representing the deal are Jeff Sause, Chad Morgan, Daniel Skerrett, and Jalynn Borders from JLL.

Players

Jeff Sause
JLL
Jeff Sause
33 deals$1.6B volume
BROKER
Chad Morgan
JLL
Chad Morgan
13 deals$542.4M volume(949) 274-0018
BROKER
Daniel Skerrett
JLL
Daniel Skerrett
3 deals$53.5M volume(310) 595-3660
BROKER
Jalynn Borders
JLL
Jalynn Borders
7 deals$159.3M volume
BROKER

Details

FINANCED
IMAGE: Jeff Sause, Chad Morgan, Daniel Skerrett, Jalynn Borders, Larry Grantham, DaJuan Bennett & Zach Novatt DATE: 09/12/2024 ADDRESS: 34351 Date Palm Drive MARKET: Cathedral City ASSET TYPE: Retail ~ SF: 195,000 LENDER: Larry Grantham, DaJuan Bennett & Zach Novatt - Calmwater Capital (@CalmwaterCapital) LANDLORD: Rhino Investment Group BROKERS: Jeff Sause, Chad Morgan, Daniel Skerrett & Jalynn Borders - JLL (@JLL) LOAN AMOUNT: $21,860,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.01x

Max Loan Amount

$20.86

Monthly NOI$0.13
Monthly Debt Service$0.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00