Deal: Kirkland Retail and Auto Center

Location: Kirkland, WA

Collateral: 11,500 square foot Retail and Auto Center in Kirkland

Amount: $840,000

Type: Perm-Fixed, Forward

Purpose: The borrower was looking to refinance their maturing existing debt and wanted to lock in a low rate. We placed the loan with one of our correspondent life companies with an 8 month forward commitment and locked in a long term fixed rate before rates went up.