Office Building

Loan Highlights

  • Location: Farmington, CT
  • Product Type: Office Building
  • Loan Amount: $4,000,000

Description

Office Building

Revere Capital funded a $4,000,000 loan secured by a first lien on the leased fee interest in a 133,500-square foot, office property sitting on a 13.3-acre lot located in Farmington, CT. The property is 100% occupied by a large-cap, publicly traded company. Proceeds were used to acquire the property by a repeat borrower of Revere’s.

  • Borrower is a repeat borrower
  • Simultaneous with the acquisition, Borrower entered into a 99-year ground lease in which the Borrower leased the Property to the ground lessee in exchange for a lump sum initial payment and escalating, annual rental payments.
  • Transaction closed in under 3 weeks