Dealmaker: Barry Slatt Mortgage Secures $84M for Office, Retail
Barry Slatt Mortgage Co., Los Angeles, secured $83.9 million secured by office and retail assets in California and Colorado.
In downtown San Mateo, Calif., Barry Slatt CEO Daniel Friedeberg, Vice President Kelvin Lam and Jason Wang closed a $75 million permanent loan to refinance 400 S. El Camino Real, a Class A office building owned by Romel Enterprises LLC, San Mateo.
The subject property is a newly renovated 14-story, 145,795-square-foot multi-tenant office building. A commercial mortgage-backed securities lender provided the 10-year fixed-rate loan.
Friedeberg and Wang also closed an $8.3 million bridge/construction loan on a vacant K-Mart building in Denver. They placed the loan with a loan fund. The property was significantly pre-leased but subject to a long-term ground lease.
In Camarillo, Calif., Barry Slatt Mortgage Commercial Mortgage Banker Garrett Garner and Analyst Tom Hennessy arranged a $600,000 loan on a three-unit 4,250-square-foot office condo. The client received a short-term variable-rate note to coincide with future investment strategies and his desire to avoid pre-payment premiums. A large national bank provided the loan and waived many upfront fees to retain their client.
