Single Tenant NNN Industrial Refinance
Jon Fulton and Kevin Heisser of Capital Partners are thrilled to announce a recent funding success in San Diego, California. CPI was engaged to refinance the loan for a single-tenant NNN industrial building. The process wasn't without challenges, as many lenders hesitated due to several factors: this was the sponsors' only investment property, their sole source of income, and they were located out of state. Additionally, there were just 3.5 years left on the lease with no renewal options available.
However, leveraging their extensive research, CPI crafted a persuasive narrative that highlighted the strengths of the opportunity. They emphasized the property’s stable tenancy history, its appeal even if the current tenant were to vacate, and the sponsors’ proven ability to manage the property remotely without a local property manager.
CPI successfully arranged a 5-year loan with no lease extension contingency, a 30-year amortization period, no prepayment penalties, and no personal guarantees required. This achievement demonstrates CPI's capability to navigate complex challenges in today's ever-evolving capital markets.
#NNN #Singletenant #Industrial #CRE