$2,900,000 Secured for Acquisition of Triple Net Lease Property in San Antonio, TX
Progress Capital arranged a $2,900,000 permanent mortgage for a client to acquire the 9,768 SF retail building located at 4511 NW Loop in San Antonio, TX. The property is currently subject to a NNN ground lease with ‘US Renal Care’ dialysis centers with 7.5 years remaining on the term and (2) 5-year extension options.
Progress negotiated a 10 year term with 25 year amortization and 4.50% fixed for 5 years. This loan represents 66% of the subject property purchase price. The borrower may pay off the principal balance at any point during the term without any prepayment penalty.
Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress
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