Sunrise Plaza Refinances for $27MM in CMBS Transaction
SAN JOSE, Calif., Dec. 7, 2017 /PRNewswire/ -- Barry Slatt Mortgage Co. (BSM), a leading provider of commercial real estate financing, has arranged $27 million in debt to refinance Sunrise Plaza, a 112,805 square foot retail shopping center in San Jose, California. Behzad Boroumand, Vice President in BSM's Burlingame office, arranged the debt placement.
"Our objective was to maximize loan dollars, increase cash flow, and mitigate any post-closing headaches," said Boroumand. "We worked with our network of CMBS lenders to source the most competitive terms and negotiate a structure that met our client's needs. Also, as the servicer on this loan, BSM will provide service continuity for the life of the loan."
The 10-year loan has a fixed rate with full-term interest-only payments.
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