Select Commercial Closes Two Retail Commercial Mortgage Loans Totaling $4,466,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of two Commercial Mortgage Loans totaling $4,466,000, for the refinance of two retail centers known as Ham Lake Centre and Crosstown Shopping Center, both located in Ham Lake, Minnesota. Ham Lake Centre contains 17,031 gross square feet of building area on a 4.09 acre parcel. The property was built in 1998 and has parking for 72 cars. The property was 91.2% occupied at closing with 7 local tenants, mostly in the medical field. Crosstown Shopping Center contains 33,933 gross square feet of building area on a 14.87 acre parcel. The property was built in 1978 and has parking for 405 cars. The property was 93% occupied at closing with 8 local tenants, including Subway and Domino’s Pizza. “Select Commercial specializes in commercial and apartment lending, and we like to lend to local real estate investors”, commented Stephen A. Sobin, President and Founder of Select Commercial. The borrower chose Select Commercial for their loan based on Select Commercial’s knowledge of the market, their 40+ years of experience and their “A+” rating with the Better Business Bureau. Daniel Sobin, Vice President of Originations, negotiated the loan on behalf of the borrower and the borrowing entity.