Advisors: Daniel Friedeberg
City: Western States
Lender type: CTL
Property type: Retail
Transaction type: Permanent Loan
Loan amount: $11,000,000
Barry Slatt Mortgage President, Daniel Friedeberg, along with team members Kelvin Lam and Marina Elias recently closed an $11,000,000 loan on a Lowe's home improvement center located in the western United States.
The loan was placed with a CTL lender (Credit Tenant Lease) that made a fully amortized non-recourse loan over the remaining lease term with a 1:1 debt service coverage ratio. This financing structure allowed our client to retire existing debt on the property that was maturing.