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First Financial Capital Provides $35M Acquisition Loan For Portfolio Of 24 Gas Stations In Fairview, OR

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FINANCED
$35,000,000

Oregon

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Package Deal845,316 SF
Financed 10/20/2023
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FINANCED

First Financial Capital Provides $35M Acquisition Loan For Portfolio Of 24 Gas Stations In Fairview, OR

255 Depot Street

See Similar Deals
Package Deal845,316 SF
Financed 10/20/2023
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Summary

OREGON
Asset Type:Package Deal
Price Per Square Foot:$41
Total Square Footage:845,316 SF
Transaction Type:Loan

The asset involved in this transaction is a package deal consisting of 24 gas stations under Leatherse Enterprises Inc, situated at 255 Depot Street in Fairview, OR. The total square footage of the asset is 845,316, with a loan amount of $35,000,000 allocated for the acquisition through a defined loan structure. The loan type is categorized as an acquisition loan with interest-only terms for one year, accompanied by two free annual renewal options.

Summary of transaction details:

  • Property Type: Package Deal
  • Transaction Amount: $35,000,000
  • Lender: First Financial Capital
  • Lender's Representative: Faraz Ghadooshahy
  • Landlord: S&S Petroleum
  • Loan Terms: I/O, 1 year + 2 free annual renewal options
  • Note: Portfolio acquisition of 24 gas stations

Key individuals in this transaction include Faraz Ghadooshahy, representing First Financial Capital, who facilitated funding for the acquisition. S&S Petroleum acts as the landlord for the properties involved in this transaction, indicating their role within the deal.

Players

LENDER

Details

FINANCED
IMAGE: Faraz Ghadooshahy DATE: 10/20/2023 ADDRESS: 255 Depot Street - Leatherse Enterprises Inc MARKET: Fairview, OR ASSET TYPE: Package Deal ~ SF: 845,316 LENDER: First Financial Capital (@FirstFinancialCapital) - Faraz Ghadooshahy (@FarazGhad) LANDLORD: S&S Petroleum LOAN AMOUNT: $35,000,000 LOAN TYPE: Acquisition Loan LOAN TERMS: I/O, 1 year + 2 free annual renewal options NOTE FROM LENDER: Portfolio acquisition of 24 gas stations.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$35,000,000.00

Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00