Funding Purpose
Provided acquisition financing for the purchase of a fintech facility in the Southeastern US.
Property Description
Corporate single tenant absolute triple net lease property with 2% Annual Escalations. Renovated in 2016.
Sponsors
Experienced investor looking to diversify portfolio and reduce management responsibilities.
Challenges
- Getting lenders comfortable with a privately owned tenant.
- Property is in a Flood Zone.
Solutions
- Sourced a local lender that was familiar with the tenant.
- Navigated Flood Insurance requirements.
Funding
- Loan to Value: 65%
- Interest Rate: 3.75%
- Amortization: 25 years
- Term: 15 years
