ValueXpress Obtains $1.25-Million CMBS Conduit Loan for an Advance Auto Parts Retail Store in Southeast Florida

ValueXpress obtained a $1.25-million first-mortgage loan that was utilized to refinance existing debt secured by a 6,800-square-foot net leased retail building leased to Advance Auto Parts.  The improvements are located on a 1-acre site and were constructed in 2006.  The improvements are in excellent physical and functional condition. The property is in Broward County in the Miami-Ft. Lauderdale-Miami Beach MS.  The loan transaction was structured as a 10-year term based on a 30-year amortization schedule.  Loan-to-value was 75% and the property provides 1.25x net cash flow DSCR on actual income and expenses.

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This entry was posted in Commercial Lending, News & Recent Closings, Owner-User Loans, The Banker's Mortgage Conduit, Valuexpress and tagged . Bookmark the permalink.

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