DEAL SPOTLIGHT
Illinois Single-Tenant Industrial Acquisition
Gregory Gali
Today’s Deal Spotlight centers on the acquisition of a single-tenant industrial property in Kankakee, Illinois. Due to the Borrower’s pre-existing relationship with many large lending firms, they were initially reluctant at our suggestion to consider other Lenders.
What We Were Up Against
The Borrower had expressed that their goals with this deal were flexibility with their prepayment penalty and max leverage. The second was a particularly difficult ask, since they also wanted non-recourse terms. Regardless, we got to work.
What Our Team Helped Turn Around
Team TDC managed communication between the Lender and Borrowers to sustain momentum amidst market uncertainty and successfully negotiated non-recourse terms with a spring-back structure. Our Client was ecstatic to close with the following:
- An $825,000 Loan Amount
- 3.95% Fixed Interest Rate
- 5-Year Fixed Term
- 25-Year Amortization
- 75% LTV
- Non-Recourse
The team at Terrydale Capital consistently goes above and beyond to secure the best possible refinancing terms for our clients. Are you dealing with issues related to market volatility during COVID-19? Worried about high fees and missing out on better options? We have ways to help. Give us a call and see what we can do for you.
Your Success is our Priority!
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