Commercial Loan News
STEELHEAD CAPITAL, INC. ADVISES FAMILY TRUST IN $2.2MM ACQUISITION FOR RETAIL CENTER IN REDLANDS, CA
San Francisco, CA - April 1, 2004
Commercial Real Estate Loan Summary:
Steelhead Capital, Inc. represented a family trust in its acquisition of Redlands Center in Redland, CA. The property sold at a 7.750% CAP rate and closed on April 1st 2004. The transaction was the replacement property and part of a 1031 exchange.
The one-year old 9,000 sq. ft. multi-tenant retail center is in a location with high traffic and excellent street frontage next to a recent expanded Wal-Mart store and other major retail operators. Tenants include AT&T, Aldephia and Subway. All the leases are absolute net with annual adjustments during the primary term. The area is experiencing solid growth with excellent demographics. The transaction closed at 100% occupancy.
A. Sean Aguilar, CCIM, provided the advisory services for the Buyer and was responsible for identifying the opportunity and structuring the acquisition. The Seller is a Southern California developer and responded to an unsolicited offer. Aguilar's services included depreciation evaluations with before and after tax cash-flows analysis.
Steelhead Capital is a premier provider of creative commercial loan financing solutions for commercial real estate investors. Steelhead Capital brings an extensive network of lending sources, structured finance experience with a focus on acquisitions, and a clear commitment to personalized customer service to investors financing properties in any of the 50 states. Steelhead Capital's offices are located in San Francisco, CA. Company information can be found at Steelhead Capital Retail Loans.
Contact Information:
Steelhead Capital, Inc
415-397-2980 (phone)
415-397-2981 (fax)