FAQ: Priority Capital Advisory's $12.75 Million Loan for Fremont Auto Dealership Refinancing

What is the main purpose of the $12.75 million loan arranged by Priority Capital Advisory?

The loan was arranged for the recapitalization and refinancing of Newark Auto Plaza, a multi-tenant automotive dealership complex in Fremont, California, on behalf of the borrower, Nearon Enterprises.

Who arranged this financing and what is their background?

Zachary Streit, Founder and President of Priority Capital Advisory, arranged the financing. Since its inception just over a year ago, PCA has closed more than $500 million in debt financing across 23 transactions.

What challenges were faced during this financing process?

The timing posed unique challenges as the client was pursuing a non-recourse loan for a specialty retail property (auto dealership) while navigating changing macroeconomic conditions shaped by recent tariff announcements and growing trade tensions.

What type of property was financed and where is it located?

The property is Newark Auto Plaza, a multi-tenant automotive dealership complex located at 39700-39750 Balentine Drive and 5623-5633 John Muir Drive in Fremont, California, situated on 14.8 acres directly adjacent to the I-880 Freeway.

What are the key features and tenants of the property?

The three-building property totals 110,540 square feet, features both showrooms and service/repair centers, and is fully occupied by Fremont Ford, Winn KIA of Fremont, and Cruise America RV.

Who is Nearon Enterprises and what is their background?

Nearon Enterprises is a privately held real estate investment company founded in Palo Alto in 1945, currently based in Walnut Creek, California. Since 1994, they have acquired approximately 120 investments totaling over 13.0 million square feet and ~$1.3 billion in transaction volume.

What makes this financing arrangement significant in the current market?

This transaction demonstrates Priority Capital Advisory’s ability to secure complex financing solutions during challenging capital markets, particularly for specialty retail properties like auto dealerships amid changing macroeconomic conditions and trade tensions.

What is Priority Capital Advisory’s track record in similar transactions?

Since its inception just over a year ago, PCA has closed more than $500 million in debt financing across 23 transactions, and over the past four months alone, Streit has led the closings of six retail loans totaling $131.25 million.

Where can I find more information about Priority Capital Advisory?

For more information, visit www.prioritycapitaladvisory.com. The firm specializes in highly structured finance solutions across the capital stack for transactions ranging from $20 million to $200 million.