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Sources of Financing
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Sources of FinancingNorthland/Marquette Capital Group, Inc. (949-717-5213) arranged $9 million in permanent financing through Archon Financial for Winchester Meadows Shopping Center, a 74,238 sq.ft., 6.5-acre center located at the northeast corner of Winchester and Margarita Roads in Temecula, CA. Anchors include Ralph’s supermarket and Chief Auto.
American Commercial Financing (760-918-2700) recently closed on $39 million in financing for the largest franchisee in the Popeye’s Chicken and Biscuits system, Interfoods of America, Inc. The transaction enabled IFDA to acquire 71 units located in central and northern FL from RMS Family Restaurants Inc. The acquisition gives IFDA a total of 163 units operating in seven states, and increases the total financing commitment from ACF to IFDA to $85 million over the last two years.
Capital Lease Funding (212-217-6300) specializes in credit tenant lease debt and equity financing for properties net leased to credit tenants rated "BB’ or better. Loans offering LTV ratios of up to 100% are available. All types of properties are considered for financing. Two programs are available, under which the company can provide: 1) shopping center financing based on credit tenant lease financing for the anchor credit tenant, with the borrower retaining the cash flow from the local tenants; or 2) split center financing based on credit tenant lease financing for the anchor credit tenant, and conduit real estate financing for the balance of the tenants. Loans can be financed through the end of the first renewal period of a lease as if the tenant renews, either on a self-amortizing or balloon balance, non-recourse basis. The company will also finance rent increases of up to 1.5% per year indexed to the Consumer Price Index. Investor acquisition, merchant builder acquisition and developer joint venture programs are also available.
Wellington Mortgage Capital (310-641-5711) recently provided financing for 18 shopping centers and single-tenant properties in southern CA totaling more than $70 million. The investment banking firm offers financing for all types of commercial real estate properties in the western U.S.
H&A Capital, LLC (330-834-1681) offers a conduit loan program for several types of commercial properties (preferably in Canada). Loans range in size from C$1 million to C$35 million non-recouse, with fixed rates, 25 to 30-year amortizations, 75% to 80% LTV ratios, processing fees and loan fees due at closing.
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