home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.


Retail Property Financing

Recent commercial mortgage activity

October 19, 2007

By COCO SALAZAR


photo of Coco Salazar

Shopping centers and other retail properties placed prominently among transactions covered in the latest edition of commercial mortgage activity.

Grassland Housing Inc., a section-eight multifamily property, secured a $1.2 million refinance loan originated by Prudential Mortgage Capital Co. The loan for the Coon Rapids, Minn., property is insured by the Federal Housing Administration, the subsidiary of the New Jersey-based Prudential Financial Inc. reported.

photo of Naples retail property

Among shopping center financing, a loan of nearly $3 million was collateralized by a 19,791 square foot retail property in Naples, Fla., Meridian Capital Group announced. Charles Siragusa lowered the interest rate on the building, which houses multiple mom-and-pop tenants, by 1.5 percent and will repay the 5-year loan at an interest rate of 6.17 percent.

Washington Mutual Bank funded a $14 million loan secured by a retail center in Kent, Wash., according to an announcement by California-based commercial lender Venture West Funding Inc. The 10-year loan has a fixed rate for the initial seven years with flexible prepay options. Quizno's and Starbucks are among the tenants of the 143,974-square-foot property anchored by a Lowe's Home Improvement Center.

A $7 million loan was issued for the Irvine Spectrum Auto Care Center in California, Meridian said. The 41,543 square foot center secured a rate of 6.24 percent over a 10-year term.

Over in Riverbank, Calif., a Verizon building secured a $3 million loan. Bruce Bossow agreed to repay the loan at rate of 6.75 percent over a 5-year term with a 5-year option, New York-based brokerage Meridian reported.

StanCorp Mortgage Investors funded a $500,000 loan for a Southern Warehouse in Medley, Fla. The 15-year fully-amortizing loan for the 34,850-square-foot warehouse has a permanent fixed rate of 6.5 percent and a 20 percent loan-to-value, Miami-based Thomas announced.

photo of Irvine Spectrum auto center
A $1.3 million loan, with a rate of 6.6 percent over a 5-year term, was issued for a 16,500-square-foot industrial building in Delray Beach, Fla. The main tenant is a representative for large dealerships in the area, including Lexus, Meridian said.

RBC Capital Markets provided a $9.9 million loan to the First Guardian Group for the Fredericksburg Rehabilitation Center. The 10-year loan for the 42,411-square-foot facility in Virginia carries 6.50 percent fixed rate. It had a 75 percent loan-to-cost with a two-year interest-only period and a 30-year amortization thereafter, Holliday Fenoglio Fowler L.P. reported.

The Pine Road Residential Estate in Miami Beach, Fla., found second mortgage financing of nearly $3.5 million through a private lender, Thomas D. Wood and Co. announced.

Meridian announced a mixed-use property in Duluth, Ga., secured a $21.6 million cash-out refinance loan that carries a 2.60 percent spread over 30-day LIBOR on a 2-year, interest-only term, and is fully non-recourse. The land the property sits on can be developed into hundreds of multifamily units and significant retail and commercial space.


Coco Salazar is an associate editor and staff writer for MortgageDaily.com.

e-mail: [email protected]



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders