Funding Purpose
Borrower was looking to lower his interest rate and pull max cash out in order to purchase more real estate
Property Description
This is a STNL Wendys Drive through that was operated by a franchise who owned a handful of other locations
Sponsors
Borrower is a very experienced retail investor who is actively looking to purchase value add retail in todays market
Challenges
- Sponsor wanted lowest to find the lowest interest rate and highest proceeds
Solutions
- Lender did not require an SDNA or Estoppel which shortened the closing timeline
Funding
- Loan Amount (LTV): 70%
- Interest Rate: 3.75%
- Amortization: 25 Y
- Term: 10 Y
- Recourse: Yes
- Prepayment: Open
