$7M Business Park Acquisition and Development | Aledo, TX

Today’s Deal Spotlight takes us to Aledo, Texas, and centers on the $6.9 million acquisition and development of an Industrial Business Park. With the requirement of extra legwork needed to counteract some discrepancies and unique adversity in the deal, Team Terrydale put their heads down and charged through the finish line.

What We Were Up Against

Heading into the deal, we were initially met with a limited pool of lenders who could execute and close the deal with our client’s initial requested terms. The deal was further complicated by the sale of a portion of the asset during the contract period. Lastly, while in the middle of conducting the deal, we were met with appraisal discrepancies and incorrect lot dimensions, which presented further complications.

What Our Team Helped Turn Around

Coordinating a three-pronged solution for our client, we began by sourcing a letter of explanation from the borrower, organizing the documents for both deals to execute their simultaneous closes, and resolving the asset inconsistencies by validating lot dimensions, construction, and Pro-forma plans. With our lender now on board with the originally requested terms, and all other potholes smoothed, we closed with the following terms:

• A $6.990,232 Acquisition and Development
• 6.00% Fixed-Interest Rate with 24 Months IO
• 5-Year Loan Term with
• 27-Year Amortization with 63% LTC

In Closing

When it comes to commercial real estate financing, Terrydale Capital is the number one partner and advocate an investor can have on their side. We prioritize competitive terms and client success regardless of deal size and complexity and elevate the resources and decision-making processes available to new and experienced investors.

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