Sagg Main & Super Fresh
Sagaponack, NY and Manahawkin, NJ
- Loan Type: Recapitalization Financing
- Property: 9,216 SF luxury single-family home and 50,390 SF grocery-anchored shopping center
- Scenario: The proceeds from the first mortgage loan were used to refinance defaulted senior loans on both properties. The transaction featured a distressed borrower and a time-of-the-essence payoff.