June 2, 2017 Comments Off on $170M Refi for 33-Property NorCal Retail Portfolio Views: 315 Bay Area, California News

$170M Refi for 33-Property NorCal Retail Portfolio

RMP Properties, LLC secured $170 million in refinancing for a portfolio of 33 high-performing, grocery retail properties in Northern California. The 1.73-million-square-foot, triple-net-leased portfolio is 100% absolute net-leased under a master lease with The Save Mart Companies.

HFF’s Peter Smyslowski, Chris Gandy and Rob Bova worked on behalf of the borrower to place the 10-year, fixed-rate loan with a consortium of CMBS lenders led by UBS. The securitized loan is being used to refinance an existing CMBS loan on the portfolio.

The properties are located in three primary Northern California markets, including the San Francisco Bay Area, Sacramento and the Central Valley. The assets are either free-standing grocery stores or are the grocery anchor in multi-tenant retail centers, and feature properties that are operated under well-known grocery brands.

Read more at HFF

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