Commercial mortgage loans are provided to eligible investors for either the purchase or refinance of a retail center. Loans are offered based on your personal needs, investment goals and property features.
Eligible retail properties include shopping centers, anchored, unanchored, big box, local mall, one or multi-tenant, and comparable retail property types. Properties may be subject to restrictive underwriting requirements if they include eateries, dry cleaners, fitness centers and other types of business that are similar. Properties that have over 60% of the leases are expiring or renewing within the loan term are also subject to stricter underwriting conditions.
No matter if anchored by a smaller business, or completely unanchored, suburban areas regard strip malls as a must have in the community, offering an convenient means for customers to go to local restaurants, go to a martial arts studio or fitness center, or even go to the barber or nail salon and commercial loans may be a perfect way to finance them.
These type of shopping centers can differ a lot in size and commercial variety, from large centers anchored by Target, to smaller centers anchored by a Walgreens or a supermarket. However, no matter their size, the owners of top tier anchored centers may want to consider advantages of loans which includes low interest rates and the fact that they usually don't make it a condition for the borrower to furnish tax returns to be approved.
Many different types of lenders are available for your commercial retail center. How to know which is the right one for your retail shopping center? The right lender/financial institution will also walk you through how to get a loan.