$7,200,000
Perm Loan
13,688 SF Retail Center
Belmont Shores, CA
HRC procured a 10-year, fixed rate, permanent loan in the amount of $7,200,000 for a 13,688 sf high-end retail center located along E. 2nd Street in the affluent beach community of Belmont Shores just south of Long Beach. The property is anchored by a Starbucks, Lucky Jeans and Simzy’s restaurant. The owner wanted to lock-in long term financing 18 months prior to the expiration of their existing loan. The financing consisted of approximately $750,000 of cash-out including funds to defease the existing loan.