Back to the full list of closings

news photo

The Madison Group arranged the $3,640,000 combined purchase financing for two Pep Boys Auto Stores located in North and South Carolina

Tags: Retail Financing, NNN Financing, Commercial Financing, Nationwide Financing, Purchase Financing
Monday, Jul 25, 2022
by Jared Shupe

This transaction turned out to be very unique from inception to close. The borrower resides in California and needed a qualified national lender that could help him finance the properties located in the Carolinas. The Madison Group quickly located a lender that quoted the deal. The most challenging part of the deal was the rapidly rising interest rates during a lengthy and delayed due diligence phase. The borrower needed a lender to honor quoted rates to meet his investment goals given the agreed upon purchase price for the assets and a rapidly changing market. The Madison Group worked diligently with borrower, seller, lender, respective attorneys, title, and brokers to meet the goals of the borrower and close what will prove to be a very competitive loan in today’s rate environment.

Location: Ft. Mill,. South Carolina & Raleigh, North Carolina

Property: NNN

Loan Amount: $3,640,000

Interest Rate: 3.99%

Term: 10 Years

Amortization: 30 Years

Prepayment: None

LTV: 70%

Full List of Recent Closings