Merchant’s Walk

Transaction Overview
Compass Commercial Mortgage, Inc. (“Compass”), the exclusive commercial real estate financing consultant for Merchant’s Walk (“MW”), successfully closed on the $13,500,000 refinancing of the Class-A multi-tenant neighborhood retail center located in Lake Worth Beach, Florida.  Improvements consist of three (3) one-story retail buildings constructed in 2024 and containing approximately 34,947 ± Rentable SF situated on a 4.76 ± Acre parcel.  At closing, the property was 91.75% leased to fourteen (14) tenants.

Compass Role
Compass assisted MW by negotiating loan terms which accomplished all of the following (i) advanced significant cash-out proceeds to the Borrower by negotiating an aggressive advance for the recapture of excess invested capital, (ii) negotiated a burn-down of the loan guarantee once all first generation tenants were in place and paying rent, (iii) recast the debt for a new 10-year term, (iv) negotiated a competitive interest rate with a low 1-year teaser rate with interest-only payments, followed by two (2) additional fixed rate terms with payments of principal and interest amortized over 25-years, and (v) proactively managed the loan process, closing on the new loan within 45-days of application.

About Compass
Compass is a full-service boutique commercial mortgage brokerage operating for Borrowers since 1996 and specializing in the professional underwriting, packaging, negotiation, and placement of commercial real estate debt throughout the State of Florida and nationwide. We believe commercial real estate finance to be an active process. We remain fully engaged in each transaction from the first conversation to the loan closing. It is specifically this attention to detail that leads to superior outcomes for our clients, including better loan terms and structure, rapid execution, lower interest rates, and reduced closing costs.