About this Property in Fresno, CA

After working for decades with a local bank, a borrower out of Fresno, CA came to Enact Partners seeking a vertical construction loan after the bank stated it would no longer be funding construction loans. The borrower owns the established supermarket-anchored shopping center with several well-known tenants along with other income-producing properties throughout the United States. With our loan, the borrower will complete vertical construction of the only remaining space in the shopping center with an additional 7,000 square foot building that has a signed lease with a bank for half of the new building. The other half is not yet leased, but several potential tenants have applied for the space. Once construction is completed and the building is fully occupied, our borrower will refinance our loan with a conventional lender.