Funding Purpose
- Refinance and pull cash out for future business opportunity
- Line of credit for extra cash when needed
Property Description
Burger King anchored 4 tenant retail center
Sponsors
The sponsor is an experience real estate investor with over 25 years of investment real estate experience.
Challenges
- Burger King anchor is a small franchisee
- Short term leases of other tenants
Solutions
- Funding through a regional bank with terms that met the client’s expectations
Funding
- Loan Amount (LTV): 50%
- Interest Rate: 3.5%
- Amortization: 25 Y
- Term: 7 Y
- Recourse: Partial Recourse
- Prepayment: No Prepay
- Line of Credit: $350,000 at 3.75%
