Mesa Office Center

Palm Desert
,
CA
3.85% fixed for 10 years
Amount: $
1500000
Interest Rate: 
3.85
%

StackSource recently closed a cash-out refinance loan for a 100% occupied, 11-unit, 21,000 SF office building located on Fred Waring Drive in Palm Desert, CA.  The borrowers have owned the property since 2000 and will use the loan proceeds to pay off the existing mortgage and pay down debt on a separate office property.  Capital Advisor Chris Peters secured financing from a local credit union lender that provided a 10-year fixed rate at 3.85% with a 30-year amortization and no prepayment penalty.

Charitable Cause supported by 1% of StackSource's revenue on this transaction:
New York City Relief