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Sources of Financing
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Sources of Financing Marabella Commercial Finance (760-741-0800) offers a program focused on pharmacy tenants including Walgreens CVS and Sav-On/Osco Drugs as primary tenants. The loans have a 10-year term with a 30-year amortization period and have a current estimated rate between 7% and 7.3% with leverage rates of up to 80% LTV. The program offers a minimum DSCR between 120% and 125%. The company offers a free review of big box transactions. The company also offers a program with Eckerd Drugs Longs Drugs and Office Max as the primary tenants with loans with a ten-year term and a 25-year amortization period. The loans have leverage rates between 50% and 70% LTV and minimum DSCR between 130% and 155%. AMI Capital (301-654-0033) arranged $1.25 million in financing for the 20 640 sq.ft. Centre Court retail center in New Iberia LA. The conduit loan has a 10-year term with a 30-year amortization at a rate of 7.65%. The leverage was 73.5% LTV and the debt service coverage was 1.25. The center was built in 1999 and is located on South Lewis Street and was fully occupied at closing. Financial Associates Enterprises (540-343-4767) is offering loans between $1 million and $25 million for shopping centers freestanding retail restaurants and other commercial properties. The loans can be used for construction bridge loans hard money second mortgages refinancing and forwards. Paper Warehouse (952-936-1000) closed a three-year $15 million deal for working capital with Wells Fargo & Company. The line of credit will be used to expand current operations beyond its current midstates markets. Paper Warehouse operates 152 stores throughout North America with 99 being company-owned. Martin Capital Group (270-354-6394) is offering a program for properties tenanted by Walgreens and CVS. The loans have a 10-year term with a fixed-rate balloon with a 25-year amortization at an 80% LTV or LTC. Rates are competitive and leveraged deals and portfolio deals are welcome. Realty Mortgage Corporation (305-293-9222) offers stated income/stated asset commercial mortgages from $50 000 to $400 000 for various types of commercial real estate. The company is a national firm and represents lenders on a non-exclusive basis. More information on the program are available at www.rmc-commercial.com.
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