GSP Secures Financing for Burbank Collection Deal
In the recent trade of the retail portion of the Burbank Collection, the buyer secured maximum proceeds as the loan was sized to 76.5% of purchase price and 75% of value.
The lender was not disclosed, however, the loan terms feature an all-in interest rate priced at 157 basis points over 10-year swaps and includes three years of interest-only payments.
The retail portion of the Burbank Collection is 39,000 square feet, and includes a Yard House, Panera Bread, Pinkberry, and Boiling Crab along with Barney’s Beanery and Steak ‘N Shake. It is in a mixed-use building with condo units.