The 10-year loan, which amortizes on a 30-year schedule and carries a note rate of 7.15%, utilized Arbor's Premium Edge product line. Robert Schooley, Arbor's Western Director, originated the refinancing, which was processed and underwritten by local staff in Arbor's western regional office.
The property serves a largely professional tenant mix, a large proportion of which is employed by the nearby St. Rose Hospital. It has limited exposure to the casino gaming and tourism industries. The loan was sponsored by an undisclosed family trust, which acquired the property simultaneous with the loan closing.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
