Western Holdings Secures $15.5M Refinance Loan For Retail Portfolio Represented By Avi Eyal Of TrueCap

The property asset involved in the transaction is located on Smithville Boulevard in Galloway, with a total square footage of 145,000. This asset falls under the retail category and is connected to a loan transaction of $15,500,000, specifically a refinance. The deal encompasses a portfolio of two shopping centers, including both an acquisition and a refinance, financed through a 10-year, full-term interest-only CMBS loan. A key challenge encountered in this transaction was the inclusion of a cannabis tenant, which typically poses restrictions in CMBS securitizations.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $15,500,000
• Loan Type: Refinance
• Address: Smithville Boulevard
• Market: Galloway
• Asset Square Footage: 145,000
• Lender: Argentic
• Landlord: Western Holdings
• Lender's Representative: Avi Eyal - TrueCap

Avi Eyal from TrueCap played a crucial role as the representative of the lender, utilizing deep relationships and innovative structuring to successfully navigate the unique challenges associated with the cannabis tenant in the transaction. The expertise displayed in managing this complex scenario ensured that the deal reached a successful conclusion, exemplifying effective collaboration in addressing unconventional tenant profiles.