Dealmaker: Barry Slatt Mortgage Arranges $43M in California
Michael Tucker firstname.lastname@example.org
Barry Slatt Mortgage, San Francisco, arranged $43 million for four California mixed-use, multifamily, retail and office assets.
Barry Slatt Principal Kenneth Fox arranged a long-term $11.25 million loan secured by a recently completed mixed-use multifamily property in San Francisco with 21 residential units and two ground-floor commercial units.
A life insurance company supplied the fixed-rate take-out financing amortized over 30 years at a competitive interest rate. Fox said Barry Slatt Mortgage will service the loan as part of its $3.7 billion portfolio.
In Alameda, Calif., Fox closed on a $6 million loan secured by a 35-unit multifamily property. A local bank supplied the financing.
Barry Slatt Mortgage President Daniel Friedeberg, Commercial Mortgage Banker Kelvin Lam and Analyst Marina Elias also arranged $8 million to refinance a 15,525-square-foot Cupertino, Calif. shopping center. Thrivent Financial, Minneapolis, supplied the 10-year fixed-rate loan with a 30-year amortization schedule.
Friedeberg and Lam also placed an $18 million loan on a 123,000-square-foot historic office building in Pasadena, Calif. A Chinese investment group acquired the 1925-vintage property for $36.4 million. The building sits on the city's popular Rose Parade route at 234 E. Colorado Ave. Thrivent Financial supplied the new loan.