Brooklyn, NY Fantini & Gorga completed debt placement of $6.5 million for the refinancing of a NNN McDonald’s ground lease.
Casimir Groblewski, senior managing director and Ryan Maddaluna, analyst, placed the financing on behalf of a client whose investments focus is on retail properties in the region.
The subject property is located at the corner of Broadway and Monroe St. and is adjacent to the Gates Ave. MTA station. The property’s proximity to the MTA, a local high school, and a large population, along with the hard corner location and drive thru, produces a high volume of foot and vehicular traffic. This McDonald’s has consistently experienced high sales since it opened in 2002.
Groblewski said, “We enjoyed working on this assignment. Our client had very specific requirements for the debt, and we were able to secure a low rate for long term financing. The lender, a national financial services firm based in the Far West, offered a structure with an interest-only period so as to provide our client with upfront, increased cash flow. We are pleased that our extensive relationships with national lenders gave our client several competitive options.”
Maddaluna said, “We chose to work with a lender that executed in a timely and professional manner.”