Regency Capital Partners

The Marketplace Shopping Center


The Marketplace Shopping Center

Summary

Regency Capital Partners (“RCP”) arranged the refinancing of this 113,000 square foot grocery and drug anchored retail center located in Davis, California. The client acquired the center in 1999 was needed to take-out the maturing acquisition loan. Despite the tight credit markets in the fourth quarter of 2009, RCP was able to secure our client cash-out permanent financing at better than market terms. Though the Property’s grocery anchor only had 5-years of lease term and the drug anchor less than 2-years, RCP was able to secure a 65% LTV, 5-year fixed rate loan with no reserves or impounds. By going to market and setting a bid, RCP was able to convince a local bank to fund its largest and only second non-recourse loan, at a rate competitive with the most aggressive life companies and a flexible declining balance prepayment penalty not offered by any other non recourse lender.


Transaction Details

LOAN AMOUNT $16,700,000
FINANCING TYPE Permanent
LENDER TYPE Domestic Bank
PROPERTY TYPE Retail
PROPERTY ADDRESS
Map
1301 West Covell Boulevard
Davis, CA
PROPERTY DESCRIPTION A 113,000 square foot grocery and drug anchored retail center located in Davis, California.