A referral and first-time STNL Buyer contacted Bill Howard of Progress Capital, seeking to purchase real estate with the following requirements:
• Absolute NNN
• Long Term Lease
• Investment Grade Tenant
With Bill’s extensive network and experience in the real estate field, he was able to secure the closing on a newly constructed 20 year NNN Burger King. The property comes with four additional 5-year renewal options and 7.5% rent escalations every 5 years. Bill successfully met all the client’s requirements resulting in a 7.10% annual ROI.
• Acquisition: $1,545,000
• Loan Amount: $772,500
• Loan to Value: 50%
• Amortization: 30 years at 4.25%
Progress Capital 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.