- Rate: 3.75% for 7 Years
- Amortization: 25 Years
- DCR: 1.15 on Gross Income
- LTV: 70%
- Guaranty: Non-Recourse
- Prepayment: Locked for three years then 4-3-2-1
Transaction Description:
George Smith Partners placed the non-recourse cash-out refinance of a stand-alone CVS in a Dallas suburb. Our Capital Provider underwrote to a 1.15 DCR without any deductions (vacancy, capex) for the net-leased asset to an investment grade tenant. There were no impounds or tenant improvement reserves taken as the tenant pays all expenses directly on their 20-year lease. Amortized over 25 years, the seven-year term was locked at 3.75% without the requirement of a repayment guaranty.
- Rate: 3.75% for 7 Years
- Amortization: 25 Years
- DCR: 1.15 on Gross Income
- LTV: 70%
- Guaranty: Non-Recourse
- Prepayment: Locked for three years then 4-3-2-1