Early involvement and experience of CommCap Advisors leads to successful terms for borrower.
CommCap Advisors is proud to announce the recent closing of Mountain’s Edge Marketplace, a 115,000 square foot Albertsons shadowed anchored center located at the entrance to the Mountain’s Edge Master Plan Community.
During closing, CommCap addressed lender concerns regarding tenant opening dates, appraisal valuation, and title complications. Additionally, volatility in geopolitical events and treasury indices required constant attention and adjustment by Nagy and Torres.
The team at CommCap obtained additional market information, comps, and data to support an increase to concluded value and negotiated holdbacks and earnout to mitigate tenant risk. The team at Remington Nevada, along with Nagy and Torres, met regularly to discuss the appropriate course of action and ultimately negotiate the best possible permanent loan takeout.
David DelZotto, Founder of Remington Nevada states, “Once we decided to hold the asset long term, we immediately sought Kyle’s advice. He worked with us during the lease up process to identify and address items that may impact our ability to secure aggressive financing. By understanding our objectives, Kyle successfully sourced and closed a CMBS loan to meet our long-term ownership goals.”
Mountain’s Edge Marketplace closed with a $33,000,000 CMBS loan on the retail property. Loan terms were 10-Years with 5-Years Interest Only and 30-Years Amortization.
Learn more at CommCapNV.com.
Kyle Nagy, Director
Sebastian Torres, Assoc. Vice President
About CommCap Advisors
CommCap Advisors is a full-service commercial mortgage banking firm specializing in the origination and servicing of commercial loans in excess of $1.5 million. Established in 2006 by former executives of a national commercial mortgage banking company, the principal founders felt compelled to create a local firm with the expertise and commitment absent from the larger companies covering the Nevada market.
CommCap professionals have successfully arranged debt on all types of income-producing real estate including retail centers, multi-family projects, office buildings, industrial parks, self-storage facilities, manufactured housing communities, hotels, and other special-purpose properties.
CommCap Advisors represents a wide variety of funding sources including Life Insurance Companies, Investment Banks (CMBS), Bridge Lenders, Government Sponsored Agencies, and Banks.