Full Address: 821 Grier, Las Vegas, NV 89119
Property type and size: Single Tenant Flex Industrial
Loan Type (Perm, Construction, Refinance, Bridge or Mezzanine): Permanent
Loan Amount: $5,975,000
Interest Rate: 4.375%
Term and Amortization: 25 year term and 25 year amortization
Name and Lender Type: (Bank, Life Company, CMBS, Private): Life Insurance Company
Anything else pertinent: As a long term holder of real estate, the borrower wanted to lock in long term fixed rate financing before the market moved. Although single tenant, highly specialized buildings are difficult to finance, CommCap was able to secure a fully amortizing loan from a life insurance company at a very competitive rate.