Looking for funding for a 16000sf Fred's Retail Store.

This is a distressed asset worth over $1MM, purchase price is $720K, NOI is $90K has 4 years left on a 10 year lease, with two renewals. I can get the first mortgage financing at 70% LTV, 2% with a 30 year amortization and only 2 points. I need help with the difference from a JV investor. I have several like this!

Send an email to rphinkle@gmail.com

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Permalink Reply by Denise Josephs on January 6, 2014 at 9:25am

Gm Randy Hinkle,

Thanks for the friends request. If you have not had a response on your post as yet, I'd be happy to take a look at it and set an appointment for a conference call. However, I do require that I be your last option for financing. I do not want to do all the work and someone else gives you the financing. So if you have been unsuccessful so far then I'd take a look at all your commercial deals.