Location: Tulsa, Oklahoma
Property Type: Single Tenant Retail
Loan Type: fixed rate
Loan Term: 12 years
This is a refinance of an existing investment property supported by lease from a Taco Bell franchisee. The loan was provided by a regional lender for the out of town owner at a 74% LTV, on a 12 year term with a 15-year amortization. The primary lease term expires in 12-years. The first 7-years called for a rate of 4.85%, adjusted to the 5-year UST for the final 5-years.