fbpx
DEAL SPOTLIGHT

$2.9M Multi-Tenant Acquisition | McKinney, Texas

Terrydale Capital

18 August 2022 · 4 min read

This week’s deal spotlight focuses on an acquisition loan for a multi-tenant retail asset in the amount of $2.9 million. Located in McKinney, TX, this property was purchased with a loan that featured a low 4.9% interest rate fixed for five years. The loan itself has amortized over 25 years.

What We Were Up Against

During the loan process, several obstacles presented themselves, the primary of which was that the client Team TDC represented had a strict closing deadline, which further reduced the amount of time we had to deal with additional challenges.

Along with the strict deadline, we were tasked with ensuring that the client could obtain a high loan amount to finalize the deal. While the closing process was ongoing, we discovered that three of the four sponsors involved with the deal needed to leave the country shortly, which added a new degree of difficulty.

What Our Team Helped Turn Around

Terrydale Capital used several strategies to overcome the obstacles in our path. When taking the strict timeline into account, Team TDC arranged for the lender to complete the entirety of the loan process expediently. We were also able to reach an agreement with the lender to facilitate a loan-to-value ratio of as much as 80% when taking closing costs into account.

Once we discovered that several sponsors had to leave the country, our team worked together with all legal teams to make sure that every facet of the closing process was prepared before departures were made, and here’s what we accomplished:

  • $2,927,500 Multi-Tenant Retail Acquisition
  • 4.9% Fixed (Year 1-5), adjusting to WSJP + 0.9% Fixed (Year 6-10)
  • 10-year Loan Term
  • 77% LTV
  • 25-Year Amortization

In Closing

At Terrydale Capital, our team works hard to help each client close commercial real estate deals on their terms. Regardless of the deal’s current market conditions or complexity, we can assist you throughout every step of the loan process to secure the financing you require. Call us today to learn more about what we offer here at Terrydale Capital.

Want first access to active opportunities and a preferred investor status? Check out www.terrydalelive.com.

More Deals and Updates

$1.6M Student Housing Acquisition | Boston, MA

$1.6M Student Housing Acquisition | Boston, MA

DEAL SPOTLIGHT $1.6 Million Student Housing Acquisition | Boston, MA19th January 2023 · 3 min readToday’s Deal Spotlight centers around a student housing acquisition in Boston, MA. Due to the current volatile market, our borrowers needed an expedited closing and...

$2.3M Self- Storage Acquisition | Lemoyne, NE

$2.3M Self- Storage Acquisition | Lemoyne, NE

DEAL SPOTLIGHT $2.3M Self- Storage Acquisition | Lemoyne, NE12th January 2023 · 3 min readToday's Deal Spotlight focuses on the acquisition of a Self-Storage Property in Lemoyne, NE for $2.3 million. Due to the market landscape, our clients required a quick close, and...

State of the Market | January 2023

State of the Market | January 2023

Market Updates Commercial Real Estate Market Update | January 2023January 5th, 2022 · 4 min readTerrydale Capital is actively providing capital solutions to our clients. We are constantly in discussion with our capital market resources and identifying new resources...

Debt Financing: Everything You Need To Know

Debt Financing: Everything You Need To Know

Learn Debt Financing:  How Is It Different from Equity Financing?December 15th, 2022 · 5 min readThere are multiple ways to finance a new business venture or fuel growth for an existing one. In most cases, businesses will outsource funds outside their own capital...

$3M Land Acquisition | Red Oak, Texas

$3M Land Acquisition | Red Oak, Texas

DEAL SPOTLIGHT $3 Million Land Acquisition | Red Oak, TX15th December 2022 · 3 min readToday’s Deal Spotlight takes us to Red Oak, Texas, and centers on the $3 million acquisition of undeveloped land. Despite looming rate changes and a critical vote on annexation...

$500K Industrial Property Acquisition | Syracuse, NY

$500K Industrial Property Acquisition | Syracuse, NY

DEAL SPOTLIGHT $500K Industrial Acquisition | Syracuse, NY8th 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...

State of the Market | December 2022

State of the Market | December 2022

Market Updates Commercial Real Estate Market Update | December 2022December 1st, 2022 · 4 min readTerrydale Capital is actively providing capital solutions to our clients. We are constantly in discussion with our capital market resources and identifying new resources...

$1.6M Student Housing Acquisition in Boston

$1.6M Student Housing Acquisition in Boston

DEAL SPOTLIGHT $1.6M Student Housing Acquisition | Boston, MA17th November 2022 · 3 min readToday’s Deal Spotlight centers on the acquisition of a student housing asset in Boston, Massachusetts. Because our clients were looking to increase the unit count, it was...

SOFR Financing | Everything You Need To Need Know

SOFR Financing | Everything You Need To Need Know

Learn SOFR: What Is It and Its Implications to Commercial Real Estate? December 8th, 2022 · 5 min readThe Federal Reserve determined that American lending and financial derivatives had to be benchmarked with a more trustworthy index following the LIBOR manipulation...