Multi-tenant Office in Phoenix, AZ
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.
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.