ARTICLE
Seaside Capital Group has arranged a $18,500,000 permanent mortgage loan for two retail centers in Naranjito and Humacao Puerto Rico. The 126,000 sq foot Naranjito Property is anchored by Econo Foods, Walgreens, Banco Popular, KFC/Pizza Hut, Burger King and Radio Shack with a solid base of inline tenants while the smaller 23,000 sq foot Humacao property is anchored by Sears. A 10 year fixed rate was provided to refinance this well positioned asset. The transaction was a part of a discounted payoff from the failed Western Bank. Seaside Capital Group is a boutique commercial real estate firm that specializes in income producing commercial real estate and multi-family financing, with the ability to lend on non-income producing commercial real estate. Within the commercial mortgage banking industry, Seaside Capital Group’s relationships run far deeper than simply the knowledge of active lenders. With dozens of funding sources, Seaside Capital Group can offer our clients with the lowest commercial loan rates and most attractive terms.