Permanent Financing - Cincinnati, OH
Transaction Details
- Project Type: Mixed-Use Small Balance Agency Financing
- Loan Amount: $1,500,000
- LTV: 65%
- LTC: 75%
- Term: 10-Year Fixed, 5-Year Interest-Only
- Rate: Treasury + 165
- Guaranty: Non-Recourse
- Structure: 10-Year Term, 5-Year I/O, Non-recourse
- Closed: Q3 2023
- Location: Cincinnati, OH
- Arranged By: Tomer Sheelo
Transaction Overview
FOCAL arranged permanent financing for a mixed-use property in Cincinnati, Ohio. The financing was arranged by Tomer Sheelo of FOCAL, a Beverly Hills-based commercial real estate debt and equity advisory firm arranging financing nationwide.
The borrower, a first-time agency client, had recently completed a substantial rehabilitation and conversion of the property, repositioning the older mixed-use asset into a primarily residential building with ground-floor retail. FOCAL guided the sponsor through its first agency execution while navigating a changing market environment.
During the financing process, rising Treasury yields and increasing vacancy created additional underwriting challenges and put pressure on both loan sizing and execution. Despite those headwinds, FOCAL secured a 65% LTV, non-recourse loan with a 10-year term and five years of interest-only payments.
The financing provided the borrower with long-term, non-recourse debt and successfully transitioned the property from its redevelopment phase into permanent financing.
About FOCAL Advisory
At FOCAL, we are dedicated to empowering our clients through comprehensive real estate advisory services tailored to meet the complexities of today's market. We specialize in market analysis, due diligence, asset management, transaction support, and innovative financing solutions, so that each investment decision is strategic, data-driven, and aligned with our clients' long-term goals.
Every real estate project carries its own unique financing requirements. Our tailored financing solutions provide flexible, efficient, and strategic funding options aligned with the specific needs of each investment - drawing on a broad spectrum of capital sources, from institutional funds and CMBS to agencies, local banks, and private money lenders, on transactions nationwide.
Contact the capital markets team - Tomer Sheelo (DRE 02144916, tomer@focalinvest.com) · (310) 929-6959 · 150 S Rodeo Drive, Suite 100, Beverly Hills, CA 90212.
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