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Anchored Retail Center
$2,000,000 Bridge Loan
Selma, CA | October 2011
Thorofare Capital funded a $2,000,000 Bridge Loan for the Refinance of a First Mortgage Secured by an Anchored Retail Center in Selma, California.
The Property is a 91% leased, 27,056 square feet portion of a much larger regional shopping center located at 2751-2775 Highland Avenue in Selma, California. The anchor tenant is Office Max, accompanied by smaller tenants in the shop space such as H&R Block. The purpose of the loan was to refinance an existing loan that had matured although the Sponsor was current on all payments. This interim solution, provided by Thorofare, should give the Sponsor time to fill the remaining vacant space and refinance the Property with conventional financing.