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TMG closed purchase financing for NNN single tenant building in Texas

Tags: NNN Financing, Single Tenant, Commercial Loan
Wednesday, Jan 13, 2021
by Angela Kesselman

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%

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