Office / Single-tenant  – Acquisition
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Office / Single-tenant – Acquisition

Southern, US

$6,100,000

Southern, US

 

Funding Purpose

Permanent Acquisition loan to acquire a single-tenant office building that was occupied by Spectrum Mobile and used as their call center.

Property Description

Spectrum office building located in the Southern, US. The property is approximately 40, 000 square feet in a retail-heavy area.

Sponsors

Texas Real Estate Investor with years of experience in multifamily and office buildings looking to add to his portfolio

Challenges

  • Delayed closing process.

Solutions

  • worked with the lender to keep the closing process moving.
  • Closed with an institutional credit union getting the client a low interest rate on a larger loan.

Funding

  • Loan Amount (LTV):   65%
  • Interest Rate:             3.35%
  • Amortization:             30
  • Term:                          7
  • Recourse:                   Full
  • Prepayment:              None


Matt Bucaro

Matt Bucaro

TITLE

Senior Director | Capital Advisor

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