Horizon Park Shopping Center
Longmont, Colorado
$11,100,000
Bridge
Debt Fund
Transaction Details
Horizon Park Shopping Center is a 148,000 square foot grocery-anchored retail property located in Longmont, Colorado. The center, anchored by King Soopers, is 100% leased and also contains a Murdoch's Ranch & Home Supply and a diverse mix of other retail tenants.
The Proposition
Ed Boxer, a Principal with Essex Financial Group, was approached by one of its private capital clients to arrange non-recourse financing to recapitalize the Property after the client made a significant investment to renovate the Property in previous years.
Our Solution
Ed Boxer arranged a $11,100,000 floating rate, non-recourse loan with a private commercial real estate finance company. The initial term is 36 months with two, 12-month extension options. The loan is interest only for the first 24 months.