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Retail / Gas Station - Acquisition

ORANGE COUNTY, CA

$2,000,000

ORANGE COUNTY, CA

 

Funding Purpose

Permanent Acquisition loan in order to purchase a NNN Shell Gas Station to add to the sponsor's real estate portfolio

Property Description

Shell Gas Station located in Orange County with a 4,000 square foot retail building on the property

Sponsors

Real Estate Investor out of Southern California. Strong borrower with a lot of liquidity

Challenges

  • Appraisal process took longer than normal
  • Environmental studies needed based on the property type

Solutions

  • Proactive communication and diligent follow-ups were key in keeping everything on track
  • Closed with a major institutional bank that provided terms better than what were originally requested

Funding

  • Loan Amount (LTV): 50%
  • Interest Rate: 3.66%
  • Amortization: 30 Y
  • Term: 10 Y
  • Recourse: Full
  • Prepayment: None


Matt Bucaro

Matt Bucaro

TITLE

Senior Director, Capital Advisor

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