$9.8MM Cash-Out Refinance of 2 Tenant NNN Retail in Silverdale, WA

Transaction Content

• Summary: Sponsor sought to improve the terms of their current debt while also pulling out cash to fund future CapEx and having a non-recourse option.
• Loan Amount: $9,800,000
• Property: 100,000 SF Retail
• Location: Silverdale, WA
• Purpose: Refinance
• Rate:​ 4.075%
• LTV: 70%
• Fixed Period:​​ 5 Years
• Interest Only: 2 Years
• Recourse: Converts to non-recourse if paid down to 60% LTV.
• Prepayment: 1 year, open thereafter.