Slatt Capital arranged a $19.7-million refinance for Sun Garden Retail Center. The 107,899-square-foot multi-tenant grocery-anchored shopping center is located at the intersection of Monterey Road and E. Alma Avenue in San Jose.
To better manage tenant lease maturities, the client chose a 12-year fixed-rate loan from one of Slatt Capital’s correspondent life company lenders, which funded the loan prior to a larger unit lease signing.
“Notably, the new loan features no post-closing covenants, no reserves, nor deposit requirements – showcasing how strong sponsorship, compelling real estate fundamentals, and a highly selective lending environment can align to deliver exceptional outcomes,” said Slatt Capital principal David Bruni, who led the transaction. “We’re proud to have matched our client with a premier life company lender and secured long-term financing that reflects the strength and resilience of this asset.”
The Sun Garden Retail Center integrates elements of local history and community identity, as it occupies the former site of the Sun Garden Packing Company, a legacy cannery tied to San Jose’s agricultural roots.
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