New York, NY - We have data on refinancing retail condominiums, Apartment Buildings and Triple Net Lease Properties. Commercial Mortgage Lenders have capital prepared to fund commercial loans on these types of commercial property. Commercial Mortgage Lenders recently arranged capital to fund a $44 million commercial loan. This Commercial Loan was a refinancing for the retail condominium at 599 Broadway. This Investment Property is in Manhattan’s SoHo neighborhood.
This security for the commercial loan is situated at the intersection of Broadway and Houston Street in the Cast Iron Historic District. As we mentioned above for commercial loans, this retail property has excellent sources for funding. The Retail space includes the first three floors and lower level space of the 12-story building. This area is one of the better retail locations in SoHo. This obviously has the retail foot traffic that is needed to create income which shows triple net leased properties are deserving of commercial loans.
The borrower of this commercial loan was ABC Management Corp. This Commercial Mortgage was a 10-year, fixed-rate loan with Prima Capital Advisors. This transaction was helped along due to the skillful culmination of a long-term repositioning of 599 Broadway. They had a creative ownership structure utilizing a joint venture master lease. This creative leasing technique was led by the talented owners of this collateral. He helped to maximize the retail potential of this net lease investment.
American Eagle subleases the ground floor, second floor and lower level spaces through a 15-year lease. American Eagle is scheduled to open a flagship SoHo store in 2010. This American Eagle retail store is very welcomed in this area.
ABC Management Corp. was founded in 1977. ABC Management Corp is a commercial real estate investment and management company headquartered in New York. ABC Management Corp has an Investment Property Portfolio made up of various property. ABC Management Corp owns numerous commercial properties in the New York metropolitan area and nationally including residential apartment buildings, retail shopping centers, office buildings and warehouses.
If your Commercial Loan is coming due and will not be refinanced, these Commercial Mortgage Lenders will help you out. Also, Commercial Mortgage Lenders are able to help get your Commercial loan for a 1031 Exchange.
The main advantage of refinancing your commercial loan is that it provides a chance for you to receive the required capital in a short time with new lower interest rates. Regardless of whether you are looking for a commercial loan, CTL Financing, Mezzanine loan, or refinancing, Loanrise.com is dedicated to getting you the best rates. For all your commercial loan requirements, Contact loanrise.com and receive a free commercial loan quote.
