- By Cooper Williams
- January 15, 2019
Below you will find the January 2019 edition of the Essex Financial Group Newsletter. Please use full screen mode for best results.
- By Blair Butler
- November 20, 2018
Coal Mine Retail Center is a 122,446 sf grocery-anchored
retail center located in Littleton, CO. The property was most recently
renovated in 1988 and major tenants include King Soopers, ACE Hardware,
Goodwill, and US Bank. Prompted by a recent lease extension by the grocery store
tenant at a higher rental rate, the Borrower wanted to re-finance the current
debt on the property to lock in a competitive interest rate for a longer term.
The prior debt on the property matured in 2023, therefore,
the refinance triggered a prepayment penalty. In addition to sourcing quotes
from both life insurance companies and CMBS lenders, Essex was able to
strategize with the existing...