Funding Purpose
1031 Acquisition.
Property Description
209,621 Sq. Ft. Walmart Super center in the Midwest.
Absolute NNN.
Sponsors
Experienced STNL NNN Investor.
Challenges
- Ground Lease with less than 10 years remaining
- 35 days for Due Diligence Contingency
Solutions
- Regional Banking Relationship
- Expedited 3rd party reports
Funding
- Loan Amount (LTV): $8,243,000 (65%)
- Interest Rate: 3.42%
- Amortization: 30 Y
- Term: 10 Y
- Recourse: Partial
- Prepayment: Step down