Franklin Street has closed a $2.5 million refinance loan for Chickasaw Trail located in Orlando, Florida. Ben Miller and Casey Siggins of Franklin Street’s Capital Advisors division secured the loan on behalf of the owner, a Florida-based private investor. The seven-year loan has a fixed rate of 3.96% and will amortize over 30 years.
“The borrower was seeking a low-leverage loan on a high-quality, well-positioned asset so naturally there was a lot of interest amongst lenders,” said Casey Siggins, director of loan originations with Franklin Street’s Capital Advisory group. “The bidding process was extremely competitive and ultimately we were able to secure the financing due to the rate, term/amortization, and non-recourse component. The borrower had a lot of good options on the table, but our solution proved to be the most attractive.”
The property is a Walmart shadow center located at 275 S. Chickasaw Trail, Orlando, Florida. Located less than a mile from FL-408 E and 10 minutes from downtown Orlando, the shopping center is 100 percent occupied with primarily local/regional tenants.
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