Sunday, May 8, 2016

Continental Funding Group Secures $11.5 Million in Financing for Three Sacramento, CA Assets Totaling 136,197 SF

J.M. Grimaldi

LOS ANGELES, CA  – Commercial real estate investment banking firm Continental Funding Group has successfully secured $11.5 million in mini-perm debt refinancing for one retail and two office properties encompassing 136,197 square feet in Sacramento on behalf of its client, a regional investment firm that specializes in acquiring and repositioning underperforming assets. 

The financing was arranged by Continental Funding Group Executive Vice President J.M. Grimaldi.

            “Despite the wide availability of capital in today’s market, many lenders are exercising extreme caution when it comes to financing smaller deals, especially distressed assets in secondary markets,” explains Grimaldi.

“While value-add investments offer a tremendous opportunity to generate returns, securing a lender that is willing to place debt on these types of assets is difficult and requires a significant degree of creativity.”

            The assets were acquired in three all-cash transactions, and the sponsor was initially seeking bridge debt for the two office properties, according to Grimaldi.

For a complete copy of the company’s news release, please contact:

Katie Kea / Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940

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