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Sources of Financing
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Sources of Financing BMC Capital (214-526-7178) provided $2.375 million in refinancing for a Burger King portfolio in Weslaco and San Benito, TX. The seven-year fixed-rate loan covers three properties and has a 25-year amortization.
David Cronheim Mortgage Corp. (973-635-6800) arranged financing of $29 million for four retail properties occupied by Gander Mountain Co. The loan carries a 10-year term with five years of interest only and then amortized over 30 years. The properties are located in Green Bay, WI; Joliet, IL; Woodbury, MN and Texarkana, TX. In Green Bay, financing of $5.08 million was arranged for a 45,770 sq.ft. property situated on 5.648 acres. In Joliet, financing of $7.56 million was arranged for a 66,796 sq.ft. property situated on 6.88 acres. In Woodbury, financing of $10.19 million for a 67,102 sq.ft. property situated on 6.658 acres. In Texarkana, financing of $6.18 million for a 66,083 sq.ft. property situated on seven acres.
Lehman Brothers Global Real Estate Group (212-526-7000) offers loans of at least $1 million for retail, office, industrial, multi-family, student housing, hospitality and self-storage properties. Loan terms range from five to 15 years with amortization of up to 30 years. Interest-only periods are available. Loan-to-value is up to 80% on senior debt. The loans are non-recourse with standard carve-outs.
Martin Capital (706-782-4302) offers build-to-suit development services, sale and leaseback financing and investment property sales.
Cornerstone Capital Corp. (614-761-2900) offers financing through specialized floating-rate or fixed-rate programs. The company’s Credit Tenant Net Lease program delivers non-recourse fixed-rate debt for single-tenant net lease properties.
KeyBank Real Estate Capital (888-KEY-2221) provides financing through commercial mortgage and mezzanine and market-rate equity capital. The company’s commercial mortgages provide long-term, non-recourse, fixed-rate and floating-rate financing for properties nationwide. Under its Commercial Mortgage Backed Securities program, KeyBank provides financing for multi-family, retail, office, industrial, warehouse, manufactured housing, self-storage, mixed-use, assisted living and medical properties. For mezzanine debt, the company offers financing of $5 million to $20 million over a three- to 10-year period. Loan-to-value is up to 90%. For equity partnerships, the company offers financing of $5 million to $15 million over a three- to five-year period.
BridgePointe Advisors (404-446-4900) provides financing through a variety of programs, including permanent and equity financing, joint ventures and investment sales.
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