Loan amount
$1,560,000
Loan type
As-Is Property Value
$2,600,000
LTV
60%
{LTV}
Property type
Commercial / Retail
Borrower Details
Credit score
800
Deal experience
4 deals
This loan scenario was submitted by a Broker
Property Details
State
Tennessee
Loan Details
Additional Loan Information
NNN. Real Estate Investment company is looking to do a 1031 exchange. We have closed on our property and are looking to invest the proceeds in a Retail building in Lebanon, TN. Investment property is currently sub-leased by Dollar Tree from Walgreens with the lease expiring in Jan of 2023. Investment property details can be found here https://www.crexi.com/properties/276753/tennessee-walgreens-dollar-tree-subleased?boardName=10. Purchase price no more than $2.6M. Putting down $1.04M. Not yet in contract. Prefer long term but open to short term to get the deal done before 1031 exchange deadline.
Status
Closed
Created
June 4, 2020 - 9:51am
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