The Burger Franchise King Of Finance
Posted on: 21/08/2006
Marabella Commercial Finance completes first permanent loan for First Burger King franchisee leased property.
Marabella Commercial Finance has originated its first permanent loan for a Burger King Franchisee Leased Property. Marabella Commercial Finance is a company that specializes in arranging financing for 1031 Exchange Commercial Investment Properties and Large Anchored Centres.
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%.
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 Centres. Marabella Commercial Finance is a member of the Mortgage Bankers Association and participates in the several of the International of Council of Shopping Centre’s Events.
To see how FranchiseUK can help you franchise your franchise business click here.
