Quickly rising interest rates accelerated the loan closing as the lender was only willing to hold a very favorable rate for a short period of time. The loan also included additional funding for the development of a vacant outparcel located on the site.
Paul Ahmed and Mackenzie Lampman with CBRE Capital Markets worked on behalf of the borrower, a private investor, to arrange a seven-year, fixed-rate loan from Bank United.
“The property sold for close to $700 per square foot, which is noteworthy for an open-air strip center.”
CRE-sources, Inc. is committed to ensuring that individuals with disabilities can access all of the goods, services, facilities, privileges, advantages, and accommodations that we offer through our website.If you are having trouble accessing the website, please call us at 954.290.3866 for assistance.
