This is a class A office complex. It is 100% occupied with one tenant(Fortune 500 company) with a lease expiring in 2016.
It is a triple net lease building where the tenant is responsible for all expenses including but not limited to tax & insurance.
yr 1 thru yr 5 - $16.89/sf…yr 11 thru yr 15 - $21.62/sf
The sales price is $150 million and it has $108million debt, leaving a $42million equity contribution.First lien of $108m to euro hypo at a fixed rat eof 5.6% with amortization of 28 yrs.
The seller will retain second lien financing in th emaount of $12million with interest acruing at 8% /yr for 7 yrs.
Would private money be my best bet for this deal? I just want a percentage of the equity.