Alameda Retail Center Lands Financial Help

Alameda Retail Center receives financing.

By Anca Gagiuc, Associate Editor

Alameda Retail Center, Albuquerque
Alameda Retail Center, Albuquerque

Q10 Realty Mortgage & Investment Co., a member of Q10 capital, LLC, has arranged through president Michael Kelly and director of commercial mortgages Michael Stordhal $2.5 million in financing for Albuquerque’s Alameda Retail Center.

“The Sponsor on this new Retail Center is a long time repeat customer with an outstanding track record both with our firm and the Insurance Company Investor who purchased the loan. This transaction is an example of the strength and power of consistent long term relationships which is at the core of our business,” Kelly said in a prepared statement.

The retail center was constructed in 2013 on 2.02 acres and includes 16,391 square feet of space. The financing was provided by a correspondent life insurance company who provided a 15-year fixed-rate loan.

Image via Q10 Capital LLC