Single-Tenant Retail Refinance | Pueblo, Colorado
May 05, 2022 · 2 min read
Today’s Deal Spotlight centers on the refinance of a single-tenant retail asset in Pueblo, Colorado. Our client had high hopes for the results of this deal, and of course, our team put in the work to make it happen.
What We Were Up Against
The client had a long term existing relationship with their local bank and was wary about obtaining a better loan structure than the current lender was willing to offer. We dove in and utilized our lender relations and was able to provide additional proceeds for a cash-out with a flexible pre-payment penalty and no reserves, as well as covering the closing costs of the loan.
What Our Team Helped Turn Around
Despite their reluctance, our client gave us the reins, resulting in a higher loan dollar amount, a better rate, a better amortization, and a better loan term than the client was presented with their current local lender. This led to a timely close with the following terms:
- A $4,213,461 Refinance
- 4.15% Fixed Interest Rate
- 10-Year Loan Term
- 25-Year Amortization
- 70% LTV w/no reserves
The team at Terrydale Capital consistently goes above and beyond to secure the best possible refinancing terms for our clients. Whether your deal is a standard acquisition, a complicated beast requiring extra negotiation and managed communication, or something in-between, we have ways to help. Give us a call now to see what we can do for you.
Want first access to active opportunities and a preferred investor status? Check out www.terrydalelive.com.
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