Los Angeles, CA
- Loan Amount: 12,800,000
- Property Type: Retail
- Producer(s): Shaun R. Moothart
Shaun Moothart has arranged the financing for a 76,333 square foot grocery anchored neighborhood shopping center located in Calabasas, CA. 100% occupied, the property is anchored by Albertsons and includes an outpad leased to Starbucks along with necessity shop tenants, such as a Cleaners, Hair Salon and GNC. To accommodate the restrictive payoff requirements of the existing CMBS lender, the 10 year fixed interest rate was locked at application at 3.60% on a forward commitment basis. The forward rate lock component provided the borrowers an opportunity to take advantage of unprecedentedly low interest rates while also avoiding future market volatility. The loan was funded by a Life Insurance Company on a non-recourse basis.