Funding Purpose
- Assist Sponsors in expanding their Real Estate portfolio outside of Multifamily assets by acquiring first Retail property.
Property Description
- Single Tenant NNN Jiffy Lube Located in Western US.
Sponsors
- The sponsor is an experienced real estate investor.
Challenges
- Sponsor’s First NNN Purchase
- Tenant is a Franchisee
- Sponsors live in different state than subject property
Solutions
- Funding secured despite the challenges
Funding
- Loan Amount (LTV): 65%
- Interest Rate: 3.99%
- Amortization: 30 Y
- Term: 7 + 3
- Prepayment: Allowed
