The subject property is a 49,793 sq ft former Albertsons 35 miles north of Seattle; in the fastest growing city in the state of Washington. Repeat Borrower has signed NNN leases in place with 2 National tenants and is in negotiations with a 3rd tenant to take occupancy to 100%. Rodeo Capital’s loan allowed the borrower to pay off the current acquisition loan on the property and to provide Tenant Improvements. Borrower will exit loan with a conventional refinance or sale of the property.
- 55% Loan to After Completed Value
- Experienced Repeat Borrower
- Built-In Interest Reserves