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NNN - Credit Tenant Lease Financing (CTL) or Private Placement Bonds
The tenants we can finance through this great program are: GSA/VA, Retail (Walgreen’s, CVS, etc.), Healthcare, Energy, Non-Profits, State, Local & Foreign Governments and Corporations (Sale/Leaseback).
This is available for credit tenants with ratings of BBB- or better (S&P) and on a case by case basis can consider BB+.
We will provide construction to perm, current delivery and forward commitment options. This financing is available Nationwide and also is non-recourse.
Unlike other types of financing for NNN leases, we can structure up to 100% of value (greater than 100% of cost) subject to a 1.00X (NNN) – 1.05X (NN, N) DSCR. The bonds are self-liquidating over the firm term of the lease, therefore, no refinance risk. We may be able to extend the amortization with residual value insurance.
Funds for Commercial Funding Now’s CTL Financing are generated through Private Placement Bonds sold to pension funds and insurance company bond departments by Commercial Funding Now’s bond agent.
If a CTL structure does not meet your financing goals, we can finance single and multi-tenant properties with conventional debt structures (i.e.: 3, 5, 7, 10 / 25 – 30). Typically, 10% liquidity is all that is required.
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