Village Shoppes$7,000,000
Refinance
Transaction Overview
Compass Commercial Mortgage, Inc. (“Compass”) the exclusive commercial real estate financing consultant for Village Shoppes (“VS”) assisted with the refinancing of a retail / automotive retail center located in Royal Palm Beach, Florida. The subject consists of three (3) one-story, retail / automotive retail buildings containing approximately 36,460 Rentable SF and situated on a 4.44 Acre parcel.
Compass Role
Compass assisted VS by negotiating superior loan terms which accomplished all of the following (i) advanced significant cash-out proceeds to the Borrower for capital improvements, (ii) recast the debt for a new 5-year term over a 30-year amortization schedule (the existing loan was amortized over a 25-year schedule), (iii) negotiated a competitive interest rate spread and guided the client through the SWAP process, and (iv) successfully managed the loan closing process saving the client tens of thousands of dollars in third party costs, documentary stamps, and intangible taxes.