Slatt Capital arranged a $19.7-million refinance for Sun Garden Retail Center. The 107,899-square-foot multi-tenant grocery-anchored shopping center is located at the intersection of Monterey Road and E. Alma Avenue in San Jose.
To better manage tenant lease maturities, the client chose a 12-year fixed-rate loan from one of Slatt Capital’s correspondent life company lenders, which funded the loan prior to a larger unit lease signing.
“Notably, the new loan features no post-closing covenants, no reserves, nor deposit requirements – showcasing how strong sponsorship, compelling real estate fundamentals, and a highly selective lending environment can align to deliver exceptional outcomes,” said Slatt Capital principal David Bruni, who led the transaction. “We’re proud to have matched our client with a premier life company lender and secured long-term financing that reflects the strength and resilience of this asset.”…