Deal: Canyon Lakes Retail
Location: Kennewick, WA
Collateral: 7,877 SF, single-story retail center built in 2006
Type: Perm, Acquisition Financing.
Purpose: JS Coats was asked to finance the down Leg of a 1031 exchange acquisition. The client brought in additional partners in order to consummate the acquisition, and therefore, we needed to find a lender which would allow a tenants in common ownership structure. We brought in one of our life insurance companies which was comfortable with the TIC structure.