Funding Purpose
Provide sponsor with a cash-out refinance extending beyond the lease term to provide flexibility and more liquidity for the future investments.
Property Description
NNN Single Tenant Citibank leased property located in Souther California.
Sponsors
Experienced Real Estate Investor.
Challenges
- Lease only has 3.5 years remaining.
- Surrounding properties vacant.
- Sponsor had low liquidity.
Solutions
- Provide 5-year term.
- Maximum Cash-Out.
Funding
- Loan Amount (LVT): – 65%
- Interest Rate – 3.5%
- Amortization: – 25 years
- Term – 5 years
- Recourse – 50% Recourse
