RealWebFunds, Inc has closed a $2,685,000 investment property loan for a portfolio of two triple-net properties. The portfolio consisted of two new build-to-suit Zaxby's restaurants in the suburbs of Atlanta, GA. The lender provided a 5 + 5 year fixed rate loan that was funded at 6% and was amortized over 25 years. The lender used a loan to value ratio of 76% with a debt service ratio requirement of 1.25. Another advantage to this commercial loan is no prepayment penalty. Christy Slye, Commercial Mortgage Specialist of RealWebFunds was the originator for this transaction.
(PRWEB) October 22, 2004 -- RealWebFunds, Inc has closed a $2,685,000 investment property loan for a portfolio of two triple-net properties. The portfolio consisted of two new build-to-suit Zaxby's restaurants in the suburbs of Atlanta, GA. The lender provided a 5 + 5 year fixed rate loan that was funded at 6% and was amortized over 25 years. The lender used a loan to value ratio of 76% with a debt service ratio requirement of 1.25. Another advantage to this commercial loan is no prepayment penalty. Christy Slye, Commercial Mortgage Specialist of RealWebFunds was the originator for this transaction.
The single tenant, triple-net restaurant properties were acquired by a single entity from one seller, allowing the properties to be used as cross-collateral for one commercial mortgage. This was helpful in mitigating the property type of restaurant and having minimal operating history. Securing one acquisition loan also made the process of working with one lender, and supporting vendors more efficient and cost effective.
About RealWebFunds
RealWebFunds, Inc. (www.realwebfunds.com) is a national commercial mortgage loan broker for real estate projects between $500,000 and $20,000,000. RealWebFunds is known for encouraging competition among commercial mortgage lenders to find the best commercial real estate financing available. Our commercial loan experts and Internet based commercial financing tools result in a service that is unmatched in efficiency, speed, and financing terms. In 2003, RealComm (http://www.realcomm.com) recognized RealWebFunds with a Digie Award for being a leader and innovator in the Commercial Real Estate industry.
For More Information Contact:
Christy Slye
cslye@realwebfunds.com
888-314-3625 x117
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