Multi-tenant Office in Phoenix, AZ
Opportunity
CommLoan was approached by a Canadian sponsor looking to obtain financing for a multi-tenant office building in Phoenix. The office building was recently stabilized, but the sponsors were looking to obtain the highest possible leverage and the most competitive rate.
Solution
Using the CUPID™ platform, CommLoan was able to secure a 5-year fixed rate loan with a lending partner at 3.08% for $3.15MM at 70% loan-to-value. In addition, the loan terms came with no prepayment penalty, providing the new owner an option to sell in the future as real estate in the Phoenix market continues to appreciate.