$23MM Retail Acquisition | Myrtle Beach, SC

Placed a permanent loan for the acquisition of a stabilized oceanfront vertical entertainment complex in Myrtle Beach, SC.

Challenges

The Anchor tenant had not yet taken possession of their space thereby creating a potential issue for credit underwriting and pricing. Furthermore, the closing could not be pushed out further due to the buyer’s 1031 exchange timing requirements.

$23MM Retail Acquisition | Myrtle Beach, SC

Solutions

EyzenCo identified several CMBS lenders willing to aggressively underwrite a vertical retail entertainment complex. The winning bidder provided a 10-year interest-only loan and structured around a tenant not yet in occupancy.

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