Sports Bar Acquisition in Fort Worth, TX
18 August, 2021 · 2 min read
Today’s deal spotlight looks at the acquisition of a single-tenant retail property for a Sports Bar Franchisee in Fort Worth, Texas. Despite last-minute setbacks, Terrydale Capital fast-tracked a solution to ensure the deal would not fall through.
What We Were Up Against
Though the initial stages went off without a hitch, before we could finalize the loan:
- The original lender canceled their loan upon the discovery of a tax lien(s) the client’s were not aware of.
- The was very little time left to close another loan, and the client would be charged an extension fee if unable to meet the deadline.
What Our Team Helped Turn Around
Leveraging our network and other resources, Team TDC located a hard money lender and closed a loan within a week. Our client walked away with the following terms:
- A $2,065,000 Loan Amount
- 11.5% Fixed Interest Rate
- 1-Year Loan Term
- Interest-only with 70% LTV
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.
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