Commercial Finance Advisors Closes $1.7 Million NNN Refinance
Commercial Finance Advisors of Birmingham, Michigan closes 3 separate loans for one borrower totaling $1,700,000 in commercial mortgage debt.
Birmingham MI (PRWEB) January 7, 2008 -- Commercial Finance Advisors of Birmingham Michigan, closes 3 separate loans for one borrower totaling $1,700,000 in commercial mortgage debt. The three loans are secured by long term triple net leased, fast food restaurant tenants; Kentucky Fried Chicken occupies the Alabama location, and Captain D's occupies both the South Carolina and Texas facilities that were refinanced.
The refinance resulted in a substantial cash flow savings of over 20% for the owner and extended the fixed period to 10 years (amortized over 25 years). The loan to value was 60% on all three locations with a combined debt coverage ratio of 1.38. The interest rate is 7.4%
Commercial Finance Advisors offers unique commercial mortgage programs, such as commercial 30 year fixed, 90% non sba financing, second lien position commercial mortgages, commercial equity lines of credit, among other innovative programs. Loans amount range from $100,000 - $5,000,000. 248 885-8797 http://www.cfa-commercial.com or http://www.commercial-second-mortgage.com
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