– 60,000 square foot vacant retail box in Madera, CA
– Prior to closing, the borrower had a fully executed 20 year lease with Vallarta Supermarkets
– West Bay underwrote the value of the lease and provided 100% financing for the project
– The loan included funds for acquisition, tenant improvements, leasing commissions and interest reserve
– Once the property was stabilized, the borrower paid off the West Bay loan by securing a permanent loan