Durham VA Office
StackSource recently arranged a loan for a single tenant medical office property located in Durham, NC. The tenant, the U.S. Department of Veteran Affairs, recently signed a 2-year lease extension. The borrower, based in Atlanta, also owns the VA property situated next to this one. Due to the unusual lease structure, Capital Advisor, Andrew Bouton, worked with a NC based credit union to secure a senior loan facility that offered a loan term of 2-years to run concurrently with the VA lease. Andrew was also able to negotiate a 12-month loan extension, in exchange for a small reserve account, to allow the borrower time to renew the lease upon maturity. The non-recourse loan came with a 65% LTV, 25-year amortization and a fixed rate of 3.45%.