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AVANA Companies, a family of ESG lending and investment platforms, recently closed a $14.2 million cash-out refinance loan to key investment firm on 4 individual multi-tenant retail buildings located in Wildomar, CA.
As a retail power center, the 4 buildings, 27,150 SF NRA, ground lease are a part of a retail shopping center, is part of a larger commercial area which consists of approximately 41,150 SF NRA with a total of 7-pad retail buildings and the additional ground lease pad. As of 2021, all tenant spaces are fully built out, open for business, and paying rent in this high traffic corridor. The property is currently 96% leased by a mix of national and local tenants. Loan proceeds will go towards refinancing debt from the current lender and additional property improvements.
|Loan Purpose||Cash-Out Refinance|
|Project Date||February 28, 2022|