$500K Industrial Acquisition | Syracuse, NY
8th December 2022 · 3 min read
,Today’s Deal Spotlight centers on the acquisition of an industrial CRE asset in Syracuse, New York. Our client was looking to secure competitive terms despite several challenging factors. Luckily, Terrydale Capital is always up for a challenge.
What We Were Up Against
The industrial facility’s sole tenant was paying below-market rent and held a short-term lease. Most of the products on offer for this asset type had floating rates, but the buyer wanted a fixed-rate product. The appraisal also needed an adjustment, as it had come in $15,000 short of what was expected to meet potential proceeds.
What Our Team Helped Turn Around
Team TDC immediately moved to inform the appraisal of the updated market & further analysis, which allowed the appraiser to revisit the loan. We closely worked with a lender to lock in a fixed-rate term loan that met our clients’ expectations. At close, our client signed on the following terms:
- A $503,750 Acquisition
- 8.99% Fixed Interest Rate
- 2-Year Loan Term
- Full-Term Interest- Only For 2 Years
- 63% LTV
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.
Want exclusive opportunities to boost your current portfolio? Visit terrydalelive.com.
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