$11.05M Bridge Loan;
68,000SF, two-tenant retail center occupied by Best Buy and Party City.
HRC arranged a $11.05M acquisition loan for a 68,000SF retail center located in Silverdale, WA. The 85% LTC loan was provided by a debt fund in the mid L+500bps range. The lender was comfortable providing higher leverage given a recent lease extension by Best Buy and newly signed lease with Party City.