Oak Grove Captain D's
StackSource recently arranged $1,200,000 in financing for the acquisition of a brand-new 20-year NNN leased Captain D’s located in Oak Grove, KY. Captain D’s is quick service restaurant chain of seafood restaurants. The loan accomplished the client’s goal of satisfying a 1031 exchange and acquiring their first single tenant net leased property. With the sponsor being in NY, and the property in KY, Capital Advisor, Andrew Bouton worked with a Tennessee based credit union. The credit union is familiar with the franchisee of this location which provided them the comfort they needed to lend to an out of state borrower. The loan came with a 3.95% fixed rate for 10 years based on a 25-year amortization and no prepayment penalty.