Cohen Financial Arranges More Than $7.7M Refinancing For Portfolio of 9 Retail Properties

 

Cohen Financial, a national real estate capital services firm, announced that its Phoenix office has secured more than $7.7M to refinance a portfolio of nine single tenant retail properties located across four states, including Arizona.

rsz_image001The portfolio consists of one Dollar General and eight Family Dollar stores.

Brandon Harrington, Cohen Financial Director in the Phoenix office, originated the fixed-rate, 10-year term loan with a 30-year amortization rate. The lender was Basis Investment Group, LLC, a CMBS lender. The borrower is a Delaware Statutory Trust (DST).

“The DST borrower structure is still a relatively new concept for most lenders. This is the second portfolio of this nature that we have closed for our client, and we were able to educate the lender through the loan process to close quickly and efficiently,” Harrington said.

 

POSTED: . TAGS:
AZRE

About AZRE

Pulling together the multiple facets of the commercial real estate industry in Arizona, AZRE: Arizona Commercial Real Estate Magazine reaches out to the largest local and national commercial real estate audience within the Grand Canyon State and beyond. AZRE covers up-to-date happenings within commercial development, brokerage, construction, investment, finance, architecture, property management, real estate law and more as it relates to Arizona. Additionally, AZRE is an active voice within the commercial industry, partnering with such organizations as NAIOP, ABA, ICSC AZ, AIA AZ and Valley Partnership.