City: Harker Heights and San Antonio
State: Texas
Lender type: Life Insurance Company
Property type: Strip Center
Transaction type: 1031 Exchange
Loan amount: $5,350,000

Barry Slatt Mortgage Company President, Michael Kaplan, along with team member Joseph Pellizzon, recently closed a $5,350,000 loan secured by two free-standing retail strip centers in Harker Heights and San Antonio, Texas.  The loans were fixed for 20-years with a 25-year amortization and facilitated the borrower’s 1031 exchange. The loan was placed through one of Barry Slatt Mortgage Company’s correspondent life insurance company lenders. Barry Slatt Mortgage will be servicing the two loans as part of its $3.9 billion portfolio.