DALY CITY, CA-Cohen Financial, a national real estate capital services firm, has secured $8 million to refinance the Alto Serramonte Retail Center located in Daly City. The 100% leased unanchored multi-tenant commercial strip center is situated at a high traffic, highly visible location adjacent to the Serramonte Regional Shopping Center.
Kenneth Fox, a managing director in Cohen Financial’s San Francisco office, originated the transaction and secured the long term, fixed rate loan. The lender is Lincoln Financial Group. The borrower is a Bay Area real estate investor and a long-term Cohen Financial client.
“We locked in a forward commitment interest rate back in January of this year for the June funding, which afforded the borrower an extremely low interest rate,” said Fox.
Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, investment brokerage, loan administration and advisory services. Cohen Financial is well recognized as one of the nation’s leading loan servicers and special servicers, as well as an originator of commercial and multifamily real estate financing. Cohen Financial serves clients throughout the U.S. from offices in ten major markets.