Location: Columbus, Ohio
Property type: Performing Industrial
Type of transaction: Lender purchase w/NNN lease option to tenant
Appraised Value: $499,000
Purchase price: $200,000
Lease option price: $225,000
Broker fees: $4,000.00
The borrower had good equity in his property, but there were circumstances that did not make us entirely comfortable producing a traditional loan on the property.
We were able to structure a purchase with a lease option that gave the borrower cash he needed. We entered into a NNN lease (2 yr) buy back to the borrowers for 2k/month. At the end of the two years the tenants agree to purchase the property for 225k.
