Select Commercial Closes NNN Lease Loan of $1,100,000

Phoenix, Arizona

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $1,100,000 NNN Lease Loan, for the acquisition of a single tenant NNN leased property built in 2013 and leased to Family Dollar. The property is improved with an 8,320 square foot building on a 1.28 acre site located in Phoenix Arizona. The lease is absolute NNN and the primary lease term had just under 10 years remaining. “Select Commercial has extensive experience financing single tenant NNN lease properties, and we are very pleased to offer our customer a very low fixed rate loan”, commented Stephen A. Sobin, President and Founder of Select Commercial.

NNN leased property built in 2013 and leased to Family Dollar

The borrower received a 9+ year loan term and a 25 year amortization. The rate was in the high 3% range and the loan to cost was 70%. “The borrower liked the fact that we were able to offer a low fixed rate for this acquisition” said Mr. Sobin, adding, “This is a long-term investment for our borrower and we were comfortable with the quality of this tenant and the location of the property”.

Family Dollar is owned by Dollar Tree, Inc., an investment grade tenant rated “BBB-“ by S+P. Dollar Tree, a Fortune 200 company, operates 14,800 stores across 48 states.

The borrower chose Select Commercial for their loan based on Select Commercial’s knowledge of the market, their 30+ years of experience and their “A+” rating with the Better Business Bureau. Stephen A. Sobin negotiated the loan on behalf of the borrower and the borrowing entity.