Refinance current loan to take advantage of low interest rate environment with cash out proceeds.
Single Tenant NNN CVS property located in Los Angeles.
Avid Real Estate Investor who owns a total of 9 Retail properties along with multifamily and SFR.
- Only 4.5 years left on the lease.
- Two 50% owners and one of them did not want to guaranty the loan.
- Long Term lender relationship gave us the ability to structure a 5 year loan.
- Lender was ok with the personal strenght and guaranty of only one of the sponsor.
- Loan Amount (LTV): 65% – $5 million
- Interest Rate – 3.50%
- Amortization: – 25 years
- Term – 5 years
- Recourse – 50% Recourse
- Interest Only – N/A
- Prepayment – 2%