SACRAMENTO, CA–The Los Angeles-based commercial real estate investment banking firm, Continental Funding Group has successfully placed a cash-out refinancing on four commercial assets in greater Sacramento County.
CFG's J.M. Grimaldi represented the sponsor, a local owner operator. Grimaldi refinanced three of the assets in a pool transaction. These consisted of office, industrial and retail properties in the Sacramento area totaling 153,379 square feet. He also arranged the refinancing of Fairway Commons, a 64,394 square foot neighborhood shopping center in Roseville, CA.
“With the pool transaction, the client's request was for a bridge-like structure with a conventional rate and flexible prepay,” Grimaldi says. “Given a blended occupancy rate of 62%, CFG was able to structure a competitive mini-perm by cross-collateralizing all three properties and ultimately met all the client's needs.”
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