Transaction Overview
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.
