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NNN Chipotle – Acquisition

PHOENIX, AZ

$1,000,000

PHOENIX, AZ

 

Funding Purpose

Loan request for the acquisition of a NNN Chipotle franchise in the metropolitan area

Property Description

Single tenant, NNN retail property Phoenix, Arizona. Property was built-to-suit for a 10 year lease by Chipotle featuring a new drive-thru component

Sponsors

The sponsor used 1031 exchange proceeds from the sale of a 44-unit condominium building in San Diego

Challenges

  • Environmental surveys needed slowing the closing process

Solutions

  • Funding with an out-of-state bank that was able to meet all the client's requests based on the low LTV

Funding

  • Loan Amount (LTV): 25%
  • Interest Rate: 3.5%
  • Amortization: 30 Y
  • Term: 15 Y
  • Recourse: Non Recourse 
  • Prepayment: Step down


Matt Bucaro

Matt Bucaro

TITLE

Senior Director, Capital Advisor

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