Clayton Summit

Johnson County
,
NC
3.34% fixed, 5/25, partial recourse burn-off
Amount: $
3250000
Interest Rate: 
3.34
%

StackSource arranged a $3,250,000 senior loan for the acquisition of a two story, 31,330 square foot, fully leased medical/professional office. The property is located in Clayton, NC in Johnson County near Raleigh. The building is 38% occupied by the United States Department of Veterans Affairs. Other tenants include a radiology practice, spine center, and an ear nose & throat clinic. This is the second medical/professional property in the Raleigh MSA for the sponsor. Capital Advisor, Andrew Bouton, was able to work with a PA based bank to secure a senior loan structured with 10% partial recourse to burn off when the principal loan balance reaches a 60% LTV threshold. The loan came with a 3.34% fixed rate at a 65% LTV and a 25-year amortization.

Charitable Cause supported by 1% of StackSource's revenue on this transaction:
Andee's Army