Sprindale, AR – Ending 2017, working with a valued client, Bill Howard, Senior Consultant at Progress Capital, closed on the fifth STNL property acquisition within a 22-Month time-frame – building a strong net-lease property portfolio with an annual ROI of over $700,000. A recent closing, the acquisition of the retail building at 3681 West Sunset Avenue in Springdale, Arkansas, now brings Bill’s client’s portfolio to a total of 6 properties and increasing ROI to over $850,000 annually in just 24-months.
Upon closing, the 4,132 SF retail space on .8 acres will be subject to a 20 year NNN (or absolute) Net Lease with Zip’s Car Wash. Zip’s is one of the only institutionally held tunnel car wash brands in the United States and ranks 2nd in terms of size and number of locations. The triple net terms include (6) 5 year extension options and annual rent increases at 1.5% annually. The borrower’s portfolio also includes the following assets:
Having located the subject property, researched the surrounding market and strength of the asset Bill negotiated the terms of the acquisition on behalf of his client and secured a $1,400,000 non-recourse permanent mortgage to fund the transaction. The loan represents 60% of the property’s value and is accompanied by 5 year fixed-rate at 4.50% with a 10 year term and 25 year amortization.
Bill Howard has over 35 years of real estate investment experience with a strong focus on net-lease ownership opportunities he often refers to as ‘SWAN’ (Sleep Well At Night) investing. Bill is adept at selecting national STNL opportunities, researching the retail landscape and demographics of a said market and advising clients on acquisitions likely to provide long term investment with strong annual ROIs.
Progress Capital is a leading Commercial Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners, operators and developers. Since 1990, Progress has closed in excess of $40 Billion Loans and directly funded over $100 Million. With 25 years of industry leading experience, Progress Capital has an unrivaled network of lending partners and capital market relationships allowing us to provide you with flexible custom financing solutions.
We get you to the closing table – plain and simple… #thatsPROGRESS
View Press Release