$7.9M Retail Acquisition Permanent Loan;

 

Property:

An 18,765 sf retail plaza

 

Location:

210 W. Carrillo Blvd, Santa Barbara, CA

 

Financing:

HRC arranged a $7,940,000 permanent CMBS loan for the acquisition of an 18,000 sf retail plaza. Challenges included past environmental issues, new tenants taking possession after loan closing, and a high acquisition price per square foot. Additionally, the loan was structured to accommodate a reverse 1031 exchange.