$4,150,000 Acquisition Financing for Multi-Tenant Retail Center; Charlotte, SC

Transaction Description:

George Smith Partners arranged $4,150,000 in fixed-rate acquisition financing for a 100% occupied, 12,558 square foot, 4-tenant, Starbucks-anchored retail center in South Carolina. Located just across the border from North Carolina in suburban Charlotte. The contemporarily designed, 2019-built center is well located with a high traffic count, solid demographics, and includes daily needs that tenants appropriate to its suburban location. Starbucks occupies the end cap and other tenants include an investment-grade urgent care facility, a wine and food bar, and a nail salon. GSP sourced a lender that would provide a 10-year term, with a 5-year fixed rate, and no prepayment penalty, in order to give the sponsor maximum flexibility.

  • Rate: 5.66% Fixed for 5 years
  • LTV: 57%
  • Term: 10 Years
  • Origination Fee: 0.25%
  • Amortization: 30 Years
  • Prepayment: Open
  • Guaranty: Recourse

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