Stockton Retail Refi
StackSource recently arranged financing for the cash-out refinance of a single unit retail property located in Stockton, California. The local Sponsor has owned the property for over five years and has plans to make renovations to both the parking lot and roof. The loan was approved and funded based on market-level leasing data, versus the current lease in place and sponsor financials. Associate Director, Jaideep Chadha, secured the deal with a 70% LTV at a 9.5% rate fixed for 30 years.