Case Study: $7.6MM Grocery Anchored Retail Property | Acquisition | VA
Structured and arranged joint venture equity to capitalize the acquisition of a grocery anchored retail shopping centers in Richmond, VA.
The Anchor tenant was set to role during the contemplated term of the loan. Dislocation in the CMBS market due to the COVID pandemic reduced available proceeds.
EyzenCo identified a private family with a 1031 requirement willing to fund the majority of the equity as well as provide the necessary balance sheet to qualify for financing. A favorable seller carry was negotiated to bridge the acquisition until the CMBS markets stabilizes.