Charleston Dollar General
Non-recourse; Co-terminus with remaining lease term
StackSource secured a $916,500 non-recourse loan for the acquisition of a 9,014 square foot Dollar General located in Charleston, SC. The Dollar General has approximately 52 months left on the original 15-year NNN corporately guaranteed lease. The lease comes with five 5-year options to renew. The Borrower sourced this off-market Dollar General with an in-place NOI of $100,040. Capital Advisor, Andrew Bouton, was able to find a Charleston based Credit Union who were familiar with the asset and able to provide a senior loan to run concurrently with the remaining lease term. The non-recourse loan came with a 3.875% fixed rate with a 65% LTV and a 25-year amortization.
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