3.84% Fixed-Rate Single-Tenant CVS Acquisition in a Tertiary Wisconsin Market

  • Rate: 3.84% Fixed
  • Term: 7 Years
  • Amortization: 30 years
  • LTC: 67%
  • Lender Fee: 0.25%

Transaction Description: George Smith Partners successfully placed a $2,880,000 permanent loan on a single-tenant NNN CVS property located in a tertiary Wisconsin market. The property was constructed in 2014 and has 24 years remaining on the initial lease term. GSP sourced the seven-year, 3.84% fixed-rate loan by highlighting the tenant’s BBB+ investment grade rating and long lease term to mitigate the lack of operating history and low acquisition cap rate in a tertiary market. Third party and lender legal costs were capped at $12,000 with recourse limited to the top 50% of the loan proceeds. Prepayment is limited to the SWAP breakage cost – if any.

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