William Stoll Of Credit Union Executes $18.98M Refinance Loan For Retail Asset In Baytown

The property involved in this transaction is a retail asset located at 4665 Garth Road in the Baytown market. It encompasses a total square footage of 148,030 and has a loan amount of $18,984,000, under a refinance arrangement. The loan terms are structured for 15 years with rate resets every 5 years, featuring an initial interest rate of 5.9% and a loan-to-value ratio of 60%. Additional noteworthy terms include a 30-year amortization schedule and an open prepayment option.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $18,984,000
• Loan Type: Refinance
• Loan Terms: 15 Years w/ 5 Year Rate Resets
• Initial Interest Rate: 5.9%
• Loan-to-Value Ratio: 60%
• Broker: William Stoll
• Note from Broker: Credit Union Execution, Non Recourse
• Amortization: 30 Years
• Open Prepay: Yes

William Stoll acted as the broker for this transaction, facilitating the refinancing of the asset. His involvement ensured the successful execution of the loan secured by this retail property, establishing effective communication and negotiation between the lenders and the property owners throughout the process.