|GROSS LOAN AMOUNT||$2,850,000|
|LOAN TO VALUE||62.0%|
$2,850,000 FOR THE REFINANCE
OF A SHOPPING CENTER IN DINUBA, CA
The borrower negotiated a discounted payoff of $3,900,000 on a loan balance of $4,886,250 with the borrower’s previous lender. The borrower agreed to a full recourse loan even though its previous mortgage was non-recourse. The borrower and his affiliates have developed and/or purchased more than 3 million square feet of commercial property in the last 15 years, with a focus on retail shopping centers and office developments.