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iBorrow Provides $15.6M in Acquisition Financing for Retail Center in Atlanta Suburb
iBorrow has provided a $15.6 million loan to support the acquisition of a retail center at 10930 Crabapple Road in the Atlanta suburb of Roswell.
“The Roswell/Alpharetta submarket has maintained a sub-8 percent retail vacancy rate since 2014, demonstrating its resilience throughout the pandemic and the subsequent period of higher interest rates,” says Brian Good, CEO of iBorrow. “The submarket was easily able to absorb the addition of hundreds of thousands of square feet of new retail product, and achieve rent growth of 5.7 percent year-over-year, reflecting robust and steady demand.”
The retail center spans 56,921 square feet and is leased to 13 tenants, five of which have been there for more than a decade.
The challenge faced by all parties was time. The sponsor was on a deadline to close, and needed flexible financing that would facilitate the borrower’s desire to eventually transition to permanent financing.
- ◦Sale/Acquisition

