3650 REIT, a leading commercial real estate lender operating nationwide, has recently provided a $71.5-million acquisition loan for Creekside Town Center in Roseville, California. The retail development boasts an impressive 95.6% occupancy rate and was acquired by Cane Companies Management with the assistance of Palmer Capital, Inc.
According to Justin Kennedy, co-founder and managing partner of 3650 REIT, it is crucial to thoroughly evaluate each asset in today’s challenging commercial real estate market in order to determine its long-term potential. He believes that Creekside Town Center is a strong retail power center that has maintained an average occupancy rate of 95.2% since 2010 and will continue to serve the residents of Sacramento successfully.
Kennedy also expressed confidence in Cane Companies’ expertise and long-term vision for the property located in California state. He looks forward to seeing the development thrive under their management for many years ahead.
The article titled “3650 REIT Originates Acquisition Loan for Roseville Retail” can be found on Connect CRE’s website.
