Need help securing a loan during construction and prior to certificate of occupancy. We got you covered.

“Our client went under contract to purchase the Dollar Tree & Family Dollar Combo Store in the early phases of construction.  At the time of the executed contract, the Federal Reserve began rising their interest rates.  We were able to find the borrower a loan that provided flexibility with a 30-year amortization, flexible prepayment, and a 4.80% interest rate.  The client was in a 1031 exchange, and we helped to sell the downleg property on the open market.”

-Marshall Baker

Deal Quick Look:

• 4.80% interest rate

• 65% LTV

• Flexible prepayment

• 30-year amortization

The Property: The subject property consists of a 10,500 SF newly constructed building leased to Family Dollar/Dollar Tree which is also their new concept combo store. The NN+ lease was for an initial 10-year term with multiple extension options.

The Challenge: The client wanted to secure financing quickly in the challenging rising interest rate environment while the property was under construction.

The Solution: Marshall Baker, Managing Director for Triple Net Lending/Anthem Advisors, was able to source a regional lending institution that was comfortable lending on the asset due to the strength of the tenant and borrower. We were able to secure a loan commitment with advantageous terms to keep our client at ease to satisfy their 1031 upleg requirements. The lending institution funded the loan on the day of the store’s opening.