Net-lease Bassett Furniture
3.95% fixed rate, 7/25
StackSource arranged senior debt financing for a retail property triple net-leased to Bassett Furniture in Amherst, New York. Amherst is the most populous town in upstate New York, within 30 minutes driving to Buffalo to the Southwest and Niagara Falls to the Northwest. The furniture retailer's lease has 7 years remaining.
Matching the 7 year remaining lease term, StackSource negotiated a 7 year loan term over 25 year amortization, fixed at a 3.95% interest rate. The $3,500,000 commercial mortgage represents approximately 75% Loan-to-Value (LTV).
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