Henderson Mill Office Acquisition
StackSource recently arranged a $7.3 million loan closing on the acquisition of a government and medical office building located in Atlanta, GA. The property is anchored by two federally-backed tenants - the Veterans Administration and OSHA. Acquired at a 7.5% cap rate with 90+% occupancy, the sponsor's strategy is to add value by focusing on capital improvements, leasing, and renewal efforts to the property's current government and medical tenants.
StackSource Capital Advisor Andrew Bouton arranged financing with a regional bank lender that provided a 70% loan to cost and non-recourse loan. This five-year term, 25-year amortization acquisition loan is structured at a fixed 3.75% interest rate and a 0.50% origination fee.