San Francisco (November 19, 2014) – Cohen Financial, a national real estate capital services firm, today announced that it has secured a $6,365,000 acquisition loan for two retail buildings located within the Shasta Crossroads Shopping Center in Redding, California. Kenneth M. Fox, CCIM, a Managing Director in Cohen Financial’s San Francisco office, secured the loan for a big box retail building occupied by The Sports Authority and Evans Furniture Galleries, as well as another smaller, multi-tenant building occupied by The Vitamin Shoppe and Weight Watchers, to name a few. Target represents the main anchor within the subject, Shasta Crossroads Shopping Center.
Mr. Fox originated the fixed-rate acquisition financing with an Insurance Company lender. The borrower is a San Francisco Bay Area group of investors. The transaction closed on October 22, 2014.
“This was a challenging transaction due to the short term nature of the large tenant leases,” said Mr. Fox. “However, we succeeded in securing outstanding loan terms for the acquisition.”
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 Capital Advisory and Valuation 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.