Carlsbad, California (PRWEB) June 14, 2006
Marabella Commercial Finance has originated financing for its 19th Jack in the Box Net Lease Property and the Company’s 1st Taco Cabana Net Lease Property. Both properties were located in Texas and this was a refinance transaction. The loans being refinanced were short term loans and Marabella Commercial Finance structured longer term loans at the request of the borrower.
The borrower was seeking longer term fixed rate loans with attractive low rates and loan proceeds to match the loan balances that were being refinanced. Marabella Commercial Finance customized a 10-year-term fixed rate commercial mortgage loan with 20-year amortizations for both properties. The interest rate was locked at application at an approximate rate of 6.45% and the loans were committed within two weeks of the borrower applying for the loans. Mortgage loan amounts were $950,000 per property or total loan proceeds of $1.9 million. Both loans were Non-Recourse with Standard Carve-Outs.
For additional information pertaining to this refinance transaction or other commercial mortgage loan options available through Marabella Commercial Finance (such as financing for 1031 Exchange Net Lease buyers and Commercial Investment Property) you can contact Christian S. Marabella at (760) 479-0800.
About Marabella Commercial Finance:
Marabella Commercial Finance specializes in arranging financing for 1031 Exchange Net Lease Buyers, Commercial Investment Property and Large Anchored Centers. Past Credit Tenant Net Lease Properties that Marabella Commercial Finance has originated loans for have included Walgreens, CVS, Jack In The Box, CSK Automotive, Etc. and Large Anchored Centers. Marabella Commercial Finance is a member of the Mortgage Bankers Association and most recently participated in the International Council of Shopping Center’s annual convention in Las Vegas.
Christian S. Marabella
Marabella Commercial Finance
The experts on 1031 exchange Net Lease financing and commercial loans