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