Phoenix Net-lease Raising Cane's
StackSource arranged financing for a Bay Area, CA investor that acquired a newly built retail property in Phoenix, AZ net-leased to Raising Cane's. Raising Cane's a quick-serve restaurant with more than 300 locations across 23 states that specializes in chicken fingers. There were several acquisition challenges to overcome including a 1031 deadline, credit union membership for an out of market investor, a temporary certificate of occupancy, and potential subcontractor liens for pending work on the property.
StackSource sourced financing from an Arizona-based credit union lender that was able to close in under 30 days from initial contact and provided a 15-year loan term with the first 10-years fixed at 4.08%, and a 30-year amortization schedule.