DICARO & ASSOCIATES Announces Acquisition of Commercial Trust Deed Secured By 12-pump Gas Station in Houston Texas
Houston, TX (PRWEB) November 27, 2013 -- Commercial real estate financing can be hard to come by in today’s market. Hence, many buy-sell transactions conclude when the seller agrees to finance all or part of the sale. This is referred to as “holding paper” or “carrying the financing”. Recently, the owner of a 12-pump gas station in Houston, Texas was ready to get out of the business and decided to sell the real estate and the business. DICARO & ASSOCIATES, LLC stepped in to structure the transaction and agreed to purchase the loan once it was created and 1 payment was made.
The gas station owner contacted DICARO & ASSOCIATES complaining that he wasn’t able to find any cash buyers, nor prospects with their own bank financing. The owner finally decided to sell his gas station property to his general manager who paid cash for the inventory of the business and agreed to make payments over time for the purchase of the real estate asset.
“Since the private financing arrangement and subsequent loan sale were structured from the beginning, the transaction went very smoothly. We made sure that the property had a clear Phase 1 Environmental Report covered by adequate tank insurance, just in case the deal turned sour. We also made sure that the down payment, interest rate, and credit profile were substantial enough to hedge our risks” says DICARO Founder, Nicholas di Caro.
Nicholas di Caro is the Senior Investment Partner and Founder of DICARO & ASSOCIATES, LLC. A Chicago based private equity firm that invests in performing mortgages, trust deeds, agreements for deeds, land contracts, triple net leases, billboard leases, and cell phone tower leases. They will pay cash for virtually any investment-grade receivable secured by real estate.
Nicholas di Caro, DICARO & ASSOCIATES, LLC, http://www.nicholasdicaro.com/, 312-572-9109, [email protected]
Share this article