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Starbucks – NNN Construction

CARSON, CA

$2,600,000

CARSON, CA

 

Funding Purpose

Site 1 - Cash out refinance for pre-development costs of a new Starbucks store under lease negotiation and future co-tenant

Site 2 - Acquisition and rehab for single tenant site under lease negotiation with prominent Moody's rated national dental operator

Property Description

Site 1 - Existing structure on 62,300 foot lot at signalized intersection to be razed for new constructions.

Site 2 - Existing structure on .38 acre loot former Salvation Army site.

Sponsors

Experienced retail and office developer/investor with over three quarter million square feet under ownership.

Challenges

  • Sponsor under 1031 Exchange timeline
  • No executed leases

Solutions

  • Secured acquisition, pre-development, and future construction capital commitment and met 1031 exchange deadline

Funding

  • Loan Amount (LTV): 50%
  • Interest Rate: 4.25%
  • Amortization: 25 years
  • Term: 2 years
  • Recourse: Non-Recourse 


Deryl Deese

Deryl Deese

TITLE

Director, Capital Advisor

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