6590 Commerce Blvd
Rohnert Park, CA
Facility Highlights
- Multi Tenant Retail project in Rohnert Park, CA consisting of 8,753 GLA
- The site had deferred maintenance
- Most tenants were on a month to month basis which was beneficial to the value add story but proposed a challenge on the financing
Transaction Summary
- SVN assisted the Seller in obtaining a below market cap rate while still delivering yield spread and upside opportunity for the Buyer
- SVN rolled with the punches of switching to financing from cash mid transaction and the Fed raising interest rates mid transaction pre rate lock
- SVN closed the deal with an out of market Buyer sourced from their robust database
Key Benefits
- SVN | True Real Estate Partners represented both parties in the transaction
- The deal was planned to be a cash transaction and during escrow pivoted to include financing
- SVN | True Real Estate Partners introduced the Buyer to one of their preferred lenders which resulted in a below market interest rate and ultimately delivered a higher yield spread for the Buyer and a higher purchase price for the Seller