Colliers VP Mandy Pakes tells us she just refinanced an industrial asset in the Las Positas submarket of Livermore. The 120k SF multi-tenanted property on Lawrence Drive has been fully occupied for over a decade. She was able to secure a forward rate lock, so that the private investor borrowers could refinance an existing CMBS loan. The loan-term was completed with a life company and a 15-year fully amortizing at a sub-3.9% interest rate. (What made the deal unique was it was a “forward commitment," meaning the interest rate locked at application but didn’t fund until several months later.) Mandy tells us she's got another deal in the pipeline closing next week.
Livermore Lockdown
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Related Topics:
Colliers International
, Mandy Pakes
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