EL SEGUNDO, Calif.--(BUSINESS WIRE)--Venture West Funding, Inc., a mortgage company headquartered in El Segundo, CA announced it has arranged an $11.57 million loan for the refinance of the Chapel Hill Commons retail center located at 4919 Flat Shoals Road, Decatur, Georgia. The 108,100 s.f. retail center built in 1999 is anchored by Kroger and also includes other national tenants including H&R Block, Nationwide Insurance, Dollar Tree, and Blimpie.
Bill Hain of Venture West Funding arranged the financing through Goldman Sachs. The non-recourse loan is at a very competitive 10-year fixed rate with interest only for the term of the loan. According to Mr. Hain, “The borrower was able to lock the rate in early April during a period of more favorable treasury yields. In addition, the lender was able to creatively structure the loan to account for the Kroger lease expiring in four years. The interest-only payments will provide the borrower with exceptional cash flow and flexibility to support his successful real estate investment strategy.” With the previous loan maturing within 60 days, the Venture West team worked diligently with the borrower and lender to ensure an efficient closing.
About Venture West Funding
Venture West Funding was founded more than 19 years ago and has placed more than $8 billion in loan originations since 2001. Venture West Funding is one of the largest firms of its kind operating throughout Southern California, and specializes in providing mortgage loans secured by apartment buildings, commercial properties and single-family homes to a wide variety of borrowers. Venture West Funding is headquartered at 2301 Rosecrans Avenue, Suite 3170, El Segundo, California 90245 (310.706.4450). The firm also maintains a full-service office in Orange County at 31371 Rancho Viejo Road, Suite 101, San Juan Capistrano, California 92675 (949.218.4002).
