Loans for Retail Shopping Centers and Single Tenant Properties:
Retail Properties are broken into several categories:
-Typically a retail center anchored by a major grocery store and drug store is considered an Anchored Retail Center. In Conclusion this is one of the most desirable property types because these typically perform well in good times and slow economic times. For additional information on loans for Anchored Retail properties.
-The underlying collateral are the in-line shop space in a shopping center that does have an anchor tenant such as a grocery store. However, the anchor tenant parcel is not part of the subject collateral. Click here for additional information.
Unanchored Retail Strip Center or Neighborhood Center
– just as the phase implies, this is a retail center without an anchor. Typically we see restaurants, beauty shops, dry cleaners, insurance agents, liquor stores as tenants in these types of properties. For additional information on Unanchored Retail Strip Centers.
Big Box Retail also known as a Power Center – this is where there are a few larger tenants such as a TJ Max, Michaels, Target, Kohls, wholesale clubs, with only a few smaller tenants.
– several sub-categories fall under this type of retail:
- If the property is supported by long term lease from an Investment Grade Credit Tenant you might wish to consider high leverage loan through a Credit Tenant Lease transaction (“CTL”). For more information about a CTL transaction.
- Single tenant lease where tenant has healthy financial statements – they just do not carry public credit ratings. For more information on loans for these types of tenants without public ratings.
- Regional Mall
- – Multiple Tenants with generally at least two full line department stores.