To Learn More, Contact:
Brandon Harrington
Vice President
866.315.6506
2390 E. Camelback
Suite 100
Phoenix, AZ 85016
Case Studies
Circle K
Econo Lube N'Tune
News Release
MORE...
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Cohen Financial Arranges
$2.25 Million Financing For Two Retail Properties
Phoenix and Peoria, Arizona
Cohen Financial has secured more than $2.25 million
in financing for two retail locations in Arizona. Both are leased by single
tenants with long-term leases in place.
The first is a refinance of a 3,015 square-foot Circle K
gas station and convenience store located at 2439 West Union Hills Drive in
Phoenix. The lender of the Circle K refinance is a regional bank.
The second is an acquisition financing of a 2,550
square-foot Econo Lube N’ Tune located at 10380 North 91st Avenue in Peoria,
Arizona. The buyer is a retail commercial real estate investor located in
Mesa, Arizona, and the lender is a credit union.
Cohen Financial secured both loans at a 10-year term, with
an interest rate of 6.5 percent fixed for five years. Brandon Harrington,
Cohen Financial Vice President in the Phoenix office, originated the
transactions.
Phoenix Highlights - Circle K
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Gas station and convenience store
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3,015 Sq. Ft.
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10-year term
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6.5% interest rate
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Rate fixed for 5-years
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Flexible pre-pay
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Limited capital sources willing to work this property type
“Brandon and his team offer a breath of
fresh air and professionalism in this market space. I am pleased that
Cohen Financial was able to secure outstanding financing terms in this
difficult capital markets environment.”
Joseph A. Hall, Managing Member
1700 Investors, LLC
Peoria Highlights - Econo Lube N' Tune
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Automotive service center
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2,550 Sq. Ft.
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Out parcel to The Home Depot
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10-year term
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6.5% interest rate
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Rate fixed for 5-years
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70% loan-to-value (LTV)
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Limited capital sources willing to work this property type
After the client's first lender was unable to fund the
acquisition, he turned to Cohen Financial for help in finding the needed
financing. Cohen Financial secured the capital at an attractive rate and
closed the transaction just 18 days after the financing application.
About Cohen Financial
Cohen Financial is a national
real estate capital services firm offering debt and equity placement,
investment brokerage, loan administration and advisory services. Marking 31
years of capital markets experience in 2009, the company is recognized as
one of the nation’s leading originators of commercial real estate financing.
Cohen Financial serves clients throughout the U.S. from offices in 7 major
markets.
For more information, visit
www.cohenfinancial.com
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