CLAXTON, GA – Bill Howard of Progress Capital Advisors secured $1.2 Million for a high net worth investor looking for a conservative long-term investment as an asset allocation. With his knowledge and expertise, Bill provided the investor with a full-service commercial real estate investment experience. Not only did he leverage his relationships to secure financing for his client, but engaged other associates within his network to identify the NNN property that was purchased.
Bill identified a property that fully met the investor’s requirements and interests, an 11,364 SF NNN Rite Aid Pharmacy located in Claxton, GA. It is currently under a long term lease with 11 years left on the original 20-year lease and (6) five-year renewal options. In order to purchase the property, he negotiated the acquisition and worked with local banks to arrange financing. In addition to securing the debt, Bill engaged Christopher F. Brislin, Esq. to structure the LLC on behalf the investor. He also worked to arrange an umbrella policy that provides an additional $5 Million on the client’s entire portfolio.
The Rite Aid is located in the heart of Claxton’s main retail and commercial corridor. The area is served by a number of national and regional retailers including Advance Auto Parts, Family Dollar, Parker’s, Verizon Wireless, Dairy Queen, Pizza Hut, Subway and McDonald’s among others.
• Loan Amount: $1.2M Perm Loan
• Term: 10 Year fixed rate
• Amortization: 25 yrs
• Annual ROI: 7.35% on 65% LTV
About Progress Capital Advisors
Progress Capital’s loan programs include Fixed Rate Loans, Construction and Specialty Financing as well as Directly Funded Bridge Loans. With over $40 Billion in closed loans and $100 Million in bridge and direct lending, we will get you to the closing table … plain and simple.