Mutual Of Omaha Life Insurance Provides $9 Million Refinance For Foothill Village Oaks Shopping Center
California
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The transaction involves the Foothill Village Oaks Shopping Center, a retail asset located in Roseville. The property encompasses a total square footage of 65,471. The shopping center is situated in a densely populated residential submarket and hosts a diverse mix of local and national tenants.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,000,000
- Loan Type: Refinance
- Loan Terms: 5 Years
- Lender: Mutual of Omaha Life Insurance
- Brokers: Jacob Lee & Garrett Carter - PSRS- Pacific Southwest Realty Services
Jacob Lee and Garrett Carter from PSRS arranged the refinancing of the shopping center through a correspondent life insurance company. The loan structure includes a non-recourse, fixed-rate financing option with cash out and a flexible step-down prepayment penalty.
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