The Willows Shopping Center
Arranged first mortgage financing for The Willows, a regional lifestyle center located in Concord, Ca. The subject sits on 25-acres of land and is well situated immediately off the Contra Costa County regional transportation corridor with excellent freeway visibility. The 261,339 square foot center is anchored by CompUSA, REI, Old Navy, Cost Plus and Pier 1. RCP was able to secure a 10-year, non-recourse, fixed rate loan which allowed their client to release a tremendous amount of trapped equity from the transaction while locking in an extremely low interest rate. Additionally, the loan boasts a declining balance prepayment structure which provided the client with the flexibility to sell the asset during the loan term without hindrance of an onerous prepayment penalty.