Location: Bonner Springs, Kansas
Property Type: Single Tenant Retail
Loan Type: Fixed rate non-recourse
Loan Term: 15-years fully amortizing
Caffrey & Co. originally placed this loan over 10-years ago for their client and refinanced on non-recourse loan terms with a correspondent insurance company on a 15-year fully amortizing loan. The $4,215,000 new loan carried a fixed rate of 5.75% fully amortizing over 15-years. The loan to value came to 67%, with the primary lease term expiring 5-years before the loan matures.