Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of two NNN Lease Loans, totaling $2,782,150, for the refinance of two NNN leased Dollar General properties located in Bristol and New Canaan, New Hampshire. The Bristol property, located at 215 Lake Street consists of a 7,489 square foot building on a 2.37 acre site. The Canaan property, located at 1024 Macome Valley Road, consists of a 9,100 square foot building on a 1.40 acre site. Both properties are in Grafton County. Dollar General is an American chain of variety stores headquartered in Goodlettsville, Tennessee. Dollar General has over 18,000 stores in the continental United States and is publicly traded on the New York Stock Exchange (NYSE). Dollar General boasts an investment grade rating of BBB from S&P and Baa2 from Moody’s. Select Commercial has extensive experience financing NNN leased properties, and we are very pleased to offer our customer very low fixed rate loans for these two properties”, commented Stephen A. Sobin, President and Founder of Select Commercial.
The borrower received a 10 year fixed rate loan term and a 25 year amortization. “The borrower was looking to refinance into a better rate loan with a long term fixed rate” said Mr. Sobin, adding, “This a long-term investment for our borrower and we have a strong appetite for NNN properties leased to credit-rated tenants. We especially like lending on Dollar General properties”.The borrower chose Select Commercial for their loan based on Select Commercial’s knowledge of the market, their 35+ 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.