Carlsbad, CA (PRWEB) August 16, 2006 –-
Marabella Commercial Finance has originated financing for its first Burger King Franchisee Leased Property.
The Borrower came to Marabella after being re-traded by another direct lender. Marabella Commercial Finance customized a 30 year amortized loan due in 10 years (fixed for 5 years then adjustable). The start interest rate was 7.69% for the first five years of the loan and at the beginning of the 6th loan year the rate will adjust to 2.75% over the A.R.M. Rate Index (the weekly average yield on U.S. Treasury securities adjusted to a constant maturity of one year, as made available by the Federal Reserve Board). The prepayment penalty is a very friendly 3% during the first loan year, 2% the second and third, and 1% the fourth and fifth loan years, with no penalties thereafter. A Letter of Interest was issued around June 27, 2006, a commitment to lend was received by the borrower around July 3, 2006 and the transaction funded on approximately August 1, 2006 (total start to finish was approximately 36 days) Loan proceeds came to $900,000 which was a loan to value of 58%.
For additional information pertaining to this financing transaction you can contact Christian S. Marabella at (760) 479-0800. http://www.marabellafinance.com
Marabella Commercial Finance specializes in arranging financing for Single Tenant Net Leased Properties such as Walgreens, CVS, Jack In The Box, CSK Automotive, Etc. and Large Anchored Centers. Marabella Commercial Finance is a member of the Mortgage Bankers Association and participates in the several of the International of Council of Shopping Center’s Events.
Christian S. Marabella
Marabella Commercial Finance
The Experts on 1031 Exchange Net Lease Financing and Commercial Loans