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1401 El Camino Ave The asset at 1401 El Camino Ave. was one of two office properties to receive funding.

SACRAMENTO—Even with the wide availability of capital in the market, many lenders are exercising extreme caution when it comes to financing smaller deals, especially in secondary markets such as Sacramento. The Sacramento CBD market was hit harder during the recession and has been slower to recover, making it difficult to secure financing for lower-priced assets here.

Presenting an additional obstacle in a recent funding transaction, two office assets were highly distressed and vacant. Continental Funding resolved this by pooling the two distressed office assets with a stabilized retail asset, leveraging the stabilized asset to secure the necessary financing at a loan-to-value rate of 65%.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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