BEVERLY HILLS, CA—Quantum Capital Partners has arranged a $5 million second trust deed for an unnamed retail property in. The loan has a five-year fixed rate at 4.95 percent with a 3-2 prepay.
“There were four years remaining on the existing loan and the defeasance premium was over $3 million. Identifying a lender that would do a second trust deed was the only option,” said Mike Yim, managing director at Quantum, in a statement. “This was a challenging loan to arrange; lenders are usually very reluctant to take second positions, especially for ain a secondary market. We were very excited to help our client achieve his goals of maintaining flexibility while gaining the capital necessary to take advantage of a fast moving market.”
Yim as well as colleague Jonathan Hakakha originated the loan and negotiated the transaction with the lender.