Who is lending on Malls right now?
200k+ SF mall in the SW looking for floating rate loan. The word retail is a bit scary right now but who is active?
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I could name a few. PM me.
Good luck. We have a client that does B/C regional malls. We require a 15%+ in-place DY w/ 50%-100% recourse (guy has $200M+ NW).
wowie. which market?
Podunk towns in the southeast
I assume occupancy is low? I have a few lenders who would consider a deal like this but pricing is going to be expensive. You're not getting L+300 on a deal like this. PM me
Whichever bank that financed the Revel Casino in AC.
Its a small group at this juncture. Given you want a floater you are either going in with low occupancy or have anchor(s) who will likely be leaving when they roll. Banks are hesitant on malls, even with big borrowers that can give them deposits and recourse, so you can probably rule them out. Only real candidates will be debt funds. I would say best case you are L+600 and worst case you are 10%+ pricing with 1-2% pts in/out. Basically paying equity pricing without giving up the upside.
A lot will depend on what you want to do with it and if you have any legitimate interest from tenants going in.
Big redevelopment play projected with 10M in capex forcasted to be going in to revamp dated mall. Looking for a a bridge loan.
We have lenders at Raisal that may be interested. Check out our website or PM and I'll put you in touch with an advisor.
do you NEED a floater?
woops just read.
Try Calmwater?.... Maybe Mesa West...
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