Revere Capital funded an $8,900,000 loan secured by a first lien on a 145,000 sf shopping center located in Fresno, CA that is currently 97% occupied. Proceeds from Revere’s loan were used to acquire the subject property. Repayment of Revere’s loan is expected to come via the sale of various NNN parcels at the subject property including Starbucks, Arby’s, Dollar Tree and Chevron. Revere will sweep 100% of the net sales proceeds until the loan has been repaid in full.
- Loan proceeds were used to acquire the property
- Loan is senior to a mezzanine loan provided by a California-based institutional lender
- Sponsors are experienced local retail commercial real estate owners and operators