Funding Purpose
Exclusively engaged to place acquisition financing on two Dollar General new builds. NNN properties with new 15 year leases and zero landlord responsibility
Property Description
Essential retail properties in the Southwestern US. Both properties are approximately 9,100 square feet each on 1 acre lots both finished in April, 2021
Sponsors
Experienced real estate owner focusing on long-term stability while setting up the Family Trust for stable growth
Challenges
- Balancing construction delays with 1031 timeline
- Building support and advisory team for more hands-on approach to portfolio management
Solutions
- Long-term fixed rate and limited recourse financing with a proactive approach to satisfy 1031 and construction timelines
- Developed strong advisory team to minimize management for the Sponsors and plan for future succession and capital events
Funding
- Loan Amount (LTV): 57%
- Interest Rate: 3.96%
- Amortization: 30 Y
- Term: 10 Y
- Recourse: 20% Limited recourse
- Prepayment: Stepdown prepayment
