Property Type: Single Tenant Retail
Loan Type: 85% loan to value, non-recourse, no reserves
Loan Term: 10 year term
This 15,000 SF building with a single tenant non-investment grade was a purchase. The loan was limited to 85% loan to purchase. The final loan amount was $2,550,000 on a 10-year fixed rate with a 25-year amortization. The loan was subject to traditional bad boy carve-out language considered to be a non-recourse loan.