News

Shopping Center Deal Closes at 69% of Purchase Price

Q10 KDH Vice President Ryan Watson provided acquisition financing for a 100,000-square foot, grocery-anchored retail center in Houston, TX. Ryan worked on behalf of the buyer to obtain a 10-year, fixed-rate loan from one of Q10 KDH’s life company lenders. The loan closed at 69% of acquisition cost and featured three years of interest-only payments followed by a 30-year amortization on a non-recourse basis.

“The property is well located on Interstate 10 on the east side of Houston and has upside potential with the existing tenant base,” Ryan said. “The buyer wanted non-recourse financing through a life company execution. We were able to offer many options through our vast number of life company relationships and ultimately ended up at a 69% of purchase price loan.”