NNN Starbucks – Acquisition
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NNN Starbucks – Acquisition

CAVE CREEK, AZ

$1,000,000

CAVE CREEK, AZ

 

Funding Purpose

Permanent acquisition loan for a Starbucks located in the Phoenix area.

Property Description

NNN Starbucks in Cave Creek, Arizona.

Sponsors

The sponsor is using 1031-exchange proceeds from the sale of a 44-unit condominium building in San Diego. This was one of 3 exchange purchases.

Challenges

  • Client was looking to split up their 1031 exchange money over 3 different NNN properties.

Solutions

  • Funding with a state bank that was able to give the client the terms they were asking for.

Funding

  • Loan Amount (LTV): 25%
  • Interest Rate: 3.5%
  • Amortization: 30 Y
  • Term: 10 Y
  • Recourse: Non Recourse
  • Prepayment: Step down


Matt Bucaro

Matt Bucaro

TITLE

Senior Director | Capital Advisor

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