$700,000 COMMERCIAL MORTGAGE
We are pleased to announce the closing of a $700,000 Commercial Mortgage to provide permanent financing for a fully leased ground floor retail space.
Beachrock has procured a 10 year commercial mortgage collateralized by a ground floor retail space. While this was a smaller transaction, it allowed the developer to retain the property as a long term asset rather than sell to a third party investor. The tenant was a restaurant operator who had successfully established a take-out business during COVID. Beachrock identified a bank that took the time to understand both the tenant, and the underlying value of the parcel, to allow for favorable pricing and advance rates.
BEACHROCK THANKS EVERYONE INVOLVED IN THIS TRANSACTION!