NEW $3,225,000 BUILD TO SUIT CONSTRUCTION LOAN, PHOENIX, ARIZONA
November 4, 2021
New $3,225,000 Build to Suit Construction Loan, Phoenix, Arizona
Freedom Financial Funds, LLC recently provided a $3,225,000 build to suit loan for a three tenant project put together by a long time client. Upon closing we will have executed leases from Black Rock Coffee and Salad and Go. We will also have a LOI for Express Car Wash. Based upon the executed leases and the LOI, the build to cost ratio is very strong at over a nine percent cap rate.
We have known our client for for nearly a decade and this is our 13th loan with them. Because of their excellent track record and the strong value being created, Freedom was able to provide a 90% of cost loan and price it with a coupon of just 8%.
Our client relies on Freedom to be able to move swiftly so they can have the maximum amount of time to shore up tenants before closing on a project. This minimizes their risk. They also know that Freedom will respond quickly as their project progresses with a guarantee of funding draws in five days or less.