September 29, 2011 – Lim Ruger successfully closed the refinancing of a shopping center development in Los Angeles County on behalf of the owner-borrower for more than $100 Million. Because the loan obtained with Lim Ruger’s assistance has a low interest rate, our client’s debt service payments have been slashed and its financial stability greatly strengthened.
To complete the deal, Lim Ruger successfully negotiated agreements with tenants of the shopping center and lenders to several of the borrower’s affiliates. In the mortgage and mezzanine loan documents, moreover, Lim Ruger won important protections for the borrower. This deal is another example of the Firm’s deep experience in creative and ambitious real estate financing transactions.
Lim Ruger attorneys John Lim, Marc Manason and James Ho represented the borrower.