Barry Slatt Mortgage Vice Chairman, Barry Weinstock, and Senior Vice President, Dean Weinstock, have arranged 5 individual loans totaling $15,770,000 to facilitate the refinance of a single tenant Walgreens portfolio. One of the 5 loans was structured with a 6 month forward commitment that funded in December 2017. The loans were placed with one of Barry Slatt Mortgage Company's correspondent banking relationships.
At the request of the borrower, the financing package was structured with 5-year fixed rate terms. The non-recourse loans have interest rates ranging from 3.87%-4.01% with 3 to 4 years of interest only, followed by 25 to 30 year amortizations depending on the property. The prepayment structures are step-down but become open during the final 6 months.
