$3,171,000 Retail Acquisition| Dallas, Texas
13 July, 2022 · 3 min read
Today’s Deal Spotlight takes us to Dallas, Texas, and centers on the $3.17 million acquisition of retail assets. It was also important for our client to have enough capital to cover an existing bank loan and line of credit, plus closing costs.
What We Were Up Against
Our client initially wanted an interest rate in the 3.00s with a flexible prepayment penalty, however, market rates were trending in the 5.00s for loans of this size. They also had an existing relationship with a national bank they were reluctant to step away from.
What Our Team Helped Turn Around
Terrydale Capital immediately went to bat, negotiating a more flexible prepayment structure with one of our lenders to get our client ideal terms, including a mid-4.00s rate. After managing communications to push things past the finish line despite market uncertainty, we closed quickly on the following terms:
- A $3,171,591 Acquisition
- 4.50% Fixed Interest Rate
- 5-Year Loan Term
- 25-Year Amortization with 75% 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.
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