Rodeo Capital, Inc. Closes a $2,642,000 Big Box Retail Purchase in Farmington New Mexico
Experienced developer purchased a 90,651 sq ft Big Box retail location on a 10.79 acre site currently housing a Kmart. Sears who owns Kmart is currently in bankruptcy and may liquidate. Borrower is an expert in repositioning big box retail into multi tenant retail. Borrower has excellent relationship with retailers who have already entered into LOI’s with the borrower. The borrower has successfully transformed multiple big box retail locations into multi tenant retail locations while adding significant value to the properties. The borrower is a repeat borrower who utilizes Rodeo for the purchase and rehab of the properties. The borrower then exits Rodeo’s loan with either conventional financing or a sale. Rodeo is proud to work with repeat borrowers to help them achieve their real estate dreams.
- 65% Loan to Value
- Repeat Highly Experienced Borrower