CHICAGO--(BUSINESS WIRE)--Envoy Net Lease Partners, LLC, a real estate finance company specializing in single-tenant, net-leased properties, today announced the financing of a first mortgage bridge loan for a single-tenant, net lease Denny’s restaurant in the city of Auburn, Calif., just north of Sacramento.
Envoy closed on the loan in 26 days for a vacant 5,500-square-foot Denny’s, still under lease, in Northern California. The property is located on an outparcel in front of the highest-grossing grocery store in Auburn, and is one of the last remaining outparcel sites in this market.
“The experienced net lease developer chose Envoy because of our ability to close the transaction quickly due to our understanding of the underlying real estate,” says Ralph Cram, president of Envoy Net Lease Partners. “The borrower had a short fuse on the contract, as the property was not on the market for sale.”
Mr. Cram continues: “As experts on single tenant, triple net lease properties, Envoy understands the risks involved in these transactions better than most lenders. Moreover, being a private lender, we can structure transactions that regulated lenders are unable or unwilling to do.”
Envoy offers high leverage construction and bridge loan financing to qualified restaurant chains, franchisees and their developers for the development and acquisition of single-tenant restaurant properties nationwide. Denny's Corporation is a franchisor and operator of one of America's largest franchised full-service restaurant chains.
Up to 100% financing for restaurant development
Envoy’s bridge loan program is tailor-made for short-term situations such as re-tenanting vacant single tenant buildings, net lease property acquisitions with lease extension opportunities, sale/leaseback transactions, and ownership recapitalization.
Mr. Cram adds, “With over $70 billion of retail lease obligations expiring in the U.S. over the next four years, we expect significant demand for a flexible capital source that can fund the transition of properties from one retail tenant to another.”
For more details on Envoy’s bridge loan program, please download the printable flyer containing program transaction criteria here.
Envoy Net Lease Partners
Based in greater Chicago, Envoy Net Lease Partners, LLC, is a leading provider of short-term financing for single-tenant retail, industrial and medical properties. The company provides needed capital through four financing programs — ground lease A&D loans, construction loans, bridge loans, and JV equity — for deals that are often too small or too complex to attract the interest of most institutional investors and lenders.
Envoy seeks qualified projects anywhere in the U.S. For more information and full investment criteria, please visit www.envoynnn.com.
