The Madison Group (TMG), a leading national lending source for
medical facilities, arranged a $2.9M purchase transaction for this repeat
investor. The property included a
rehabbed building and a new facility with a NNN lease in place on this single
tenant transaction.
The borrower’s goals were to satisfy his 1031 exchange
requirements, while achieving an aggressive rate and terms with maximum loan
proceeds.
TMG was able to get the borrower an excellent loan through a
regional bank on this single tenant NNN asset, without a credit grade
tenant. The rate on the transaction was
locked in at 4.05% for 5 years, with a 10 year term, and a 25 year
amortization.
Location: Texas
Property: NNN single
tenant medical related building
Loan Amount: $ 2,082,000
Interest Rate: 4.05%
Term: 10 Years
Amortization: 25
Years
Prepayment: 5/4/3/2/1% open thereafter, or open at year 3
upon sale
LTV: 70%