SAN FRANCISCO (August 30, 2016) – Cohen Financial, a national real estate capital services firm, today announced that it has secured $21 million to acquire a portfolio of mixed use properties located in Salt Lake City, Utah. The portfolio consists of three adjacent buildings, including student housing for Westminster College in Salt Lake City that includes ground floor retail, a parking garage and an office property. All properties are well occupied.
The borrower was exclusively represented by Ramsey Daya of Regency Capital Partners while Paul Schroeder, Managing Director in Cohen Financial’s San Francisco office, secured the long-term fixed-rate loan through his exclusive correspondence with Sun Life Financial. The borrower is a commercial real estate investor and repeat client located in the San Francisco area. The transaction closed on August 11, 2016.
“The buyer was seeking long-term fixed-rate financing, and we provided a 20-year fully amortized loan to meet their needs,” said Schroeder.
About Cohen Financial
Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, loan administration and advisory services. Cohen Financial is well recognized as one of the nation’s leading loan servicers and special servicers, as well as an originator of commercial and multifamily real estate financing. Known for finding innovative solutions to meet client needs, the company maintains an Equity Practice to help borrowers complete their capital needs and an enhanced Asset Advisory Services to assist financial institutions and investors to better evaluate assets and investment opportunities. Cohen Financial serves clients throughout the U.S. from offices in 10 major markets.