Real Estate Finance Deal of the Week


(Found in The Crittenden Report on Real Estate Financing January 8th Issue)

Deal of the Week

Property Type: Office Complex in Greenville, S.C.
Loan: $2.8M Refi
Lender: Symetra
Leverage: 38.5% LTV
Rate: 4.6%

The office complex has more than 40 small tenants and many are on short-term leases, which kept most lenders at bay. Obtaining SNDA’s (Subordination and Non-Disturbance Agreement) on 40 tenants was problematic but Symetra agreed to only require SNDA’s on the largest tenants...

 

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