San Antonio, TX – Progress Capital’s David Cappello 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.
Cappello 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 Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners and developers of mixed-use, multifamily, construction, industrial, retail, office and commercial storage properties. With an unrivaled network of lending partners and capital market relationships we have arranged over $40 Billion in Transactions and Direct Funded $150 Million. We get you to the closing table – plain and simple. #thatsPROGRESS
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