Closed
Refinance of a Retail and Residential Asset in Morro Bay, CA
Refinance of a 4,700 square foot retail and residential asset in Morro Bay, CA.
Transaction Overview
At a glance: illi Commercial Real Estate closed the $2,000,000 refinance of a 4,700-square-foot retail and residential property in Morro Bay, California, securing long-term financing with a national bank.
Morro Bay is a coastal community on California’s Central Coast in San Luis Obispo County. The property combines retail and residential uses in a single building, giving ownership two complementary sources of income.
illi secured long-term financing with a national bank, providing the owner with stable, predictable debt on a well-located coastal asset. Learn more about our commercial real estate investment services.
Deal Highlights
- Mixed-Use IncomeRetail and residential uses provide diversified cash flow.
- Coastal LocationMorro Bay, on California’s Central Coast.
- National Bank LenderLong-term financing secured with a national bank.
- Right-Sized AssetApproximately 4,700 square feet.
Frequently Asked Questions
Where is this property located?
The property is in Morro Bay, California, a coastal community on the Central Coast in San Luis Obispo County.
What type of transaction was this?
This was a $2,000,000 refinance of a 4,700-square-foot retail and residential property, with long-term financing from a national bank.
What is a retail and residential (mixed-use) property?
A mixed-use property combines commercial space, such as retail, with residential units in the same building. The blend of income sources can help balance cash flow for the owner.
What are the benefits of long-term bank financing?
Long-term bank financing gives owners predictable debt payments and reduces how often they need to refinance, which lowers exposure to future interest rate changes.
Can illi help finance or refinance my commercial property?
Yes. illi Commercial Real Estate helps owners and investors source and structure financing for acquisitions, refinances, and recapitalizations. Contact our team to discuss your property.
Financing, refinancing, or recapitalizing a property?
illi Commercial Real Estate sources and structures debt and equity for commercial property owners and investors.
