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Press Release by Pacific Security Capital in Economy
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Commercial Real Estate Lender Pacific Security Capital Secures $8,850,000 of Permanent Financing for a Retail Property in Georgia
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This press release is about: security, capital, pacific, commercial, financing, estate, property, real, permanent, georgia, headquartered
2004-12-10, Pacific Security Capital - Pacific Security Capital assisted their client in structuring the most appropriate commercial real estate loan program by funding $8,850,000.00 of permanent financing for a retail property located in Georgia.Portland, OR (PRWEB) December 10, 2004 -- http://www.pacificsecuritycapital.com - Pacific Security Capital (“PSC”), a leading commercial real estate lender headquartered in Portland, Oregon announced today that it secured $8,850,000.00 of permanent financing for a retail property in Georgia.
The real estate property is a 170,000 square foot shopping center with several national tenants located in Albany, Georgia. Pacific Security Capital secured a first mortgage with a very competitive spread over the 10 year treasury from a conduit for which Pacific Security Capital is a correspondent. The commercial real estate loan allowed Pacific Security Capital’s client to refinance an acquisition and development loan and to lock in today’s low rates. "The challenge with this loan was to provide a long term fixed rate solution for a property in transition. The property is located in a smaller market, is anchored by a Winn Dixie and has a vacant space that will be leased to a national tenant, although taking occupancy well after loan closing. The strength of the sponsor and new tenant, combined with a well performing Winn Dixie gave us the factors we needed to meet the borrower’s goals. Given the complexity of the transaction, we are particularly proud to provide this solution to a recurring client,” said Michael Wenzlick, Senior Managing Director of Pacific Security Capital.
Pacific Security Capital spends time advising clients on the wide range of capital structures available in the market to make sure that borrowers receive the most favorable financing given their goals. By allocating this time to educate clients and discuss objectives, the process of commercial real estate lending is streamlined. Pacific Security Capital`s approach consists of the clear identification of a client`s requirements and possible financing structures, culminating in the matching of a client`s objectives with the most appropriate commercial real estate loan programs in the marketplace.
"Working in a smaller market with a transitional property and being able to provide such competitive pricing and sizing is a testimony of Pacific Security Capital`s ability to execute and to add value and is precisely the reason why this sponsor is a repeat client" said Mike Myatt, Executive Managing Director of Pacific Security Capital.
About Pacific Security Capital (PSC)
Pacific Security Capital (“PSC”) is a leading commercial real estate lender and real estate capital markets expert. Pacific Security Capital provides commercial real estate loans, construction, bridge loans, debt, equity and hybrid capital for the acquisition, development, renovation, mezzanine, and bridge financing and permanent financing of commercial real estate projects requiring more than $2MM in financing. Pacific Security Capital is headquartered in Portland, Oregon with other locations across the United States. More information about the company can be found at www.PacificSecurityCapital.com.
Contact:
Pacific Security Capital
Mike Myatt
Direct: 503-670-5415
Fax: 503-670-9400
Source: PR Web™
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