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NNN Acquisition – Multi-Tenant Retail

ORANGE COUNTY, CA

$1,935,000

ORANGE COUNTY, CA

 

Funding Purpose

Source debt at a leverage point and at terms to allow sponsorship to take advantage of a value-add retail opportunity, consistent with their syndication parameters

Property Description

6-tenant retail building with a free standing drive-thru restaurant to a Mexican food tenant

Sponsors

Real Estate syndication team with a successful track record of value-add execution in retail

Challenges

  • Multi-tenant retail with short term or expired leases
  • Recently decreased owner which made it difficult to collect financial information

Solutions

  • Lender was comfortable with sponsor's financial strength and value-add retail experience. Lender did not require all the historical financial information

Funding

  • Loan Amount (LTV): $1,935,000
  • Interest Rate: 4.00% 
  • Amortization: 25 Y
  • Term: 10 Y
  • Recourse: Full 
  • Pre pay penalty: None


Matt Bucaro

Matt Bucaro

TITLE

Senior Director, Capital Advisor

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