Q10 KDH Vice Presidents Emily Zarcaro and Matt Franke provided acquisition financing with our lender, a Fortune 100 commercial bank, for two retail buildings located in San Antonio, TX. The transaction closed with a 10-year term, 30-year amortization and a 4.70% interest rate.
Emily Zarcaro shared, “Our borrower is a private REIT who was seeking a long term fixed rate loan with substantial prepayment flexibility. We were able to achieve this on a non-recourse basis with our lender who worked quickly to meet the acquisition timeline. The higher LTV is a testament to the strength of the REIT and its manager, a Houston-based retail developer whom KDH has enjoyed a long relationship with.”