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3/09/15
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Mark One Capital, a leading provider of capital markets expertise with access to highly competitive commercial real estate loan products,
Mark One Capital has arranged $11.7 mil in separate loans for two net-leased properties in Northern California and Bothell, Wash. Mark One Capital’s Farhan Kabani and Chris Parker, out of the company’s Dallas office, arranged both loans.
The NoCal property is a 15.9k sf, single-tenant net-leased Walgreens drug store built in 2010. Mark One arranged a $6.13 mil, nonrecourse acquisition loan with an interest rate of 4.12 percent. The 10-year, interest-only fixed-rate loan has an LTV of 67 percent.
“We are seeing more lenders increasing the periods of interest-only financing they’re willing to offer on net-leased investment-grade transactions, which are in high demand among investors,” says Kabani. “As the year progresses, we expect to see this trend continue in the capital markets.”
In the Bothell, WA deal, Mark One arranged $5.6 mil in refi money for the Associated Materials building, a 146.6k sf industrial asset that was developed in 1978 and renovated in 1987. The 13-year, adjustable-rate loan has an interest rate of 3.5 percent, an LTV of 60 percent and amortizes over 25 years.
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