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Romeoville – Value Add Retail Center
Romeoville, Illinois
Romeoville – Value Add Retail Center
Client : A commercial real estate developer focused on acquiring retail centers in the suburban market of Chicago.
Transaction : Acquisition loan for a bank owned (REO) vacant 26,000 square foot retail center and adjacent lot located in Romeoville, IL. Retail center was newly constructed multi-tenant building that was never leased up.
Challenge : Client needed acquisition financing to complete transaction prior to year end otherwise selling bank (REO) was going to relist property on open market.
Opportunity : Sherpa Capital Group LLC was able to provide financing within 2 weeks and borrower had significant cash equity into the transaction and pledged additional free and clear collateral.
Action : Sherpa Capital Group LLC provided a first mortgage within a short time period.
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