NNN Texas Office Refinance
Non-US guarantor, 3.50% fixed 5/25
StackSource recently arranged a $1.1MM refinance of a triple net lease single tenant office building located in Grapevine, TX. Despite strong metrics such as 55% LTV, 1.75x DSC and a long term lease from a national brand tenant with a history of renewal, lenders were concerned with a non-US guarantor. StackSource leveraged its deep lender database to source bank debit that was comfortable lending to international guarantors. StackSource Capital Advisor Tim O'Brien secured a 5 year fixed rate at 3.50% amortized over 25 years, no covenants and no prepayment penalty.
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