Select Commercial Funding LLC Closes $1,347,500 Retail Dollar General

By: Select Commercial LLC
 
NEW YORK - Jan. 21, 2020 - PRLog -- NEW YORK – Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $1,347,500 loan, for the acquisition of a single tenant NNN leased property recently built and leased to Dollar General.  The property is improved with a 9,002 square foot building on a 1.723 acre site located at 805 Coldwater Street, Landis, North Carolina.  The property is in the Charlotte MSA, approximately 33 miles from downtown Charlotte, in Rowan County.  The lease is absolute NNN and the primary term of the lease is 15 years.  "Select Commercial has extensive experience financing single tenant NNN lease properties, and we are very pleased to offer our customer a very low fixed rate loan", commented Stephen A. Sobin, President and Founder of Select Commercial.

The borrower received a 10 year loan term and a 25 year amortization.  The rate was 3.84% and the loan to cost was 70%.  "The borrower liked the fact that we were able to offer a low fixed rate for this acquisition" said Mr. Sobin, adding, "This a long-term investment for our borrower and we were comfortable with the quality of this tenant and the location of the property".

The borrower chose Select Commercial for their loan based on Select Commercial's knowledge of the market, their 30+ years of experience and their "A+" rating with the Better Business Bureau.  Stephen A. Sobin negotiated the loan on behalf of the borrower and the borrowing entity.

About Select Commercial Funding LLC
Select Commercial specializes in apartment building loans, commercial mortgage loans, and business real estate loans nationwide, with a minimum loan size of $1,000,000.

About President Stephen A. Sobin
Stephen Sobin formed Select Commercial Funding LLC to offer commercial mortgage banking and real estate capital advisory services on a national basis.  His goal was to become an advocate for his clients and to help them navigate the constant changes facing the banking industry and to assist them by providing access to commercial real estate funds despite the constant challenges facing the capital markets.  The company was founded on the belief that many small to medium sized property and business owners lacked the expertise and capital sources to obtain the best financing options in the $1,000,000 to $10,000,000 range.  While large real estate companies often have in-house finance professionals, most small to medium sized borrowers do not have the same access to professional advice and sources of funds.  Mr. Sobin focuses on providing those services to this segment of the market.

Please visit http://selectcommercial.com for more information.

Media Contact
Stephen Sobin
inquiry@selectcommercial.com
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