Funding Purpose
Provide 100% loan-to-cost construction financing for development of Arby’s locations enabling sponsor to increase development capacity and eliminate the need to raise capital.
Property Description
Multiple locations in the Western US situated in strong retail corridors.
Sponsors
Experienced developer with a strong track record of build to suite developments nationwide.
Challenges
- 100% loan-to-cost request
- Condensed closing timeline
- First location was in a less populated state with smaller-unit lease guarantee
Solutions
- Sourced loan facility from new capital provider
- Provided 100% LTC at same terms for all locations
- Expedited closing timeline through coordinated communication with lender tenant and borrower.
Funding
- Loan Amount (LTV): $8,000,000 (100% LTC)
- Interest Rate: 8.00%
- Points: 1% in, 1% out
- Term: 12 months
- Guarantee/Recourse: Completion guarantee
- Minimum Interest: 9 months
