Location: Peoria, AZ
Loan Amount: $5.270,000
Term/Amortization: 10-years (5-yrs I/O) / 30-yr AM
Loan to Cost: 65%
Purpose: Acquisition loan for a Business Park located in Peoria, AZ. The loan features a fixed 10-year term, 5 years of interest only, 30-year amortization and non-recourse to the sponsorship.
The business park is a collection of multi-tenant, industrial/commercial condominium units consisting of 40,969+ square feet. Tenant mix consists of retail, industrial and office/medical tenants. The property is located approximately one mile north of the 101 Loop Freeway, which provides quick access to major destinations in the valley.