Freedom Loans $14 MM For Multi-Tenant Project In Southern California’s Inland Empire
August 9, 2022
Freedom Financial Funds, LLC recently closed a $14,000,000 build-to-suit construction loan for a multi-tenant project in the Inland Empire region of Southern California. Tenants include Shell, Starbucks and Tesla. The transaction was originated by Stanley Kafka, a founding principal of Freedom.
Build-to-Suit loan
$14M
Retail, Inland Empire, CA
- Loan amount
- $14,000,000
- Purpose
- Build-to-suit construction of a multi-tenant project
- Tenants
- Shell, Starbucks and Tesla
- Leverage
- 80% of the cost of the project
- Pricing
- The rate reduces once tenants are in occupancy and paying rent
- Relationship
- Fifth loan with the sponsors
- Originated by
- Stanley Kafka
This is the fifth loan that Freedom has provided to the sponsors. The loan, which funds 80% of the cost of the project, includes a provision to reduce the interest rate once tenants are in occupancy and paying rent. It also allows for extension options that give the borrower maximum flexibility.
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