StackSource successfully placed permanent financing on a refinance and cash out of an unencumbered Dollar General located in Greenville, PA. The corporate-backed lease to Dollar General has 13 years left on the original 15 year NNN lease, plus 3 5-year extension options, making it a safe bet for both the investor and the lender.
The proceeds of this 100% cash out loan will be used by the client to invest in other single tenant net leased properties. With the borrower being based in California, Capital Advisor, Andrew Bouton, identified a local lender to secure a 65% LTV product for this out of market borrower. The loan came with a 3.66% fixed rate for 10 years based on a 25-year amortization schedule.