Northern California Office
Advisors:
Andrew MacLeod
City: San Francisco Bay Area
State: California
Lender type: Life Insurance Company
Property type: Office
Transaction type: Refinance
Loan amount: $7,500,000
TRANSACTION DESCRIPTION
Barry Slatt Mortgage Senior Vice President, John Souza, and Commercial Mortgage Banker, Andrew MacLeod, recently refinanced a $7,500,000 loan on a 60,000 sq. ft. office building in Salinas, California. The new lender, Woodmen Life, met with the borrower to tour the property and was very accommodating throughout the closing process. The borrower was very pleased as they came off of a 7.00% interest rate to a 15-year fully amortizing loan of 4.02%. Barry Slatt Mortgage will be servicing this loan as part of its $3.8 billion portfolio.
