
February 2023
Transaction Description:
George Smith Partners arranged $3,669,250 in fixed-rate financing to refinance a single-tenant NNN Rite-Aid located in Mechanicsburg, Pennsylvania. GSP sourced a lender that would provide 10-year, fixed-rate debt with no prepayment penalty in order to give the sponsor maximum flexibility. The financing is fixed at 4.98% amortizing over a 30-year period. Rite Aid signed a 26-year lease that expires at the end of the loan term. The tenant’s lease includes four 5-year options at fixed rents.
- Rate: 4.98% Fixed
- LTV: 65%
- Term: 10 Years
- Origination Fee: 0.25%
- Amortization: 30 Years
- Prepayment: Open
- Guaranty: Recourse