ASSIGNMENT:

The client was referred to us by one of our preferred commercial real estate brokerage firms This was our third  purchase transaction for the client who was pursuing multiple STNL purchases via 1031 exchange sales of a portfolio of Apartment building downleg properties.

CHALLENGE:

The seller was the tenant and was not willing to provide store sales or tax returns.  The seller owned over 50 Sonics in the market area and in lieu they provided to us a P&l that was for all store operations.

SOLUTION:

ALB was able to identify a lender that offered very competitive rate and terms and due to us having a strong sponsor the lender agreed to accept the P&L's provided by the tenant/seller.