$4,600,000 Non-Recourse, Full-Term Interest Only, Permanent Financing for the Acquisition of a Single-Tenant NNN CVS Property in San Antonio, Texas

  • Rate: 4.80%, Fixed
  • LTV: 65%
  • Term: 10 Years
  • Amort: Interest Only
  • Prepayment: Defeasance
  • Guaranty: Non-Recourse
  • Lender Fee: Par

Transaction Description: George Smith Partners successfully placed a $4,600,000 non-recourse permanent loan on a single-tenant NNN CVS property located in San Antonio, Texas. The property was built in 2012 and has 22 years remaining on the lease. GSP sourced the full-term interest only loan from a lender comfortable with the low acquisition cap rate. The loan is fixed for ten years at 4.80% and is interest only during the entire loan term. The third party and lender legal costs were capped at $25,000.

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