Funding Purpose
Provided acquisition financing for the purchase of an Urgent Care facility in the Southern US. This is the first purchase in a 1031 exchange.
Property Description
Corporate single tenant net lease medical center with 14 years remaining on the lease. Company has grown to 154 locations since opening in 2009.
Sponsors
Experienced investor looking to diversify portfolio and reduce management responsibilities.
Challenges
- Rates increasing in the market due to current events in the world.
Solutions
- Secured competitive rates despite treasuries increasing rapidly.
Funding
- Loan to Value: 65%
- Interest Rate: 3.73%
- Amortization: 30 years
- Term: 10 years fixed
- Prepayment: None
